Binance to sell Russia business for undisclosed amount

Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, and Litecoin are seen in front of a displayed Binance logo in this illustration taken, June 28, 2021. REUTERS/Dado Ruvic/Illustration/File photo

(Reuters) -Cryptocurrency exchange Binance said on Wednesday it will sell its Russia business to newly-launched exchange CommEX, becoming the latest company to pull out of Moscow since the country began its war against Ukraine.

Binance, the world's largest cryptocurrency exchange, did not disclose financial details of the deal. The company said it will have no ongoing revenue split from the sale, nor will it maintain an option to buy back shares in the business.