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RE: Binance Exits from Russian crypto Market
One would expect the benefits of cryptocurrency that have been felt on virtually all sectors to fast-track its adoption, sadly these regulations have been a stumbling block. As a leading exchange, Binance exiting from Russia market is a disappointing development, but could this be an opportunity for other top exchanges who are still operating in the region to further strengthen their customer base with their equally good services?
We don't know if these is a setback or a blessing as more better options might come to play new role in crypto space in both Russian market and the world at large, but the question remains, what better option do we have ? and what could be the rationale behind going for the exchanges ? We desperately need answers as these is not funny any more.
In my opinion, regulations are aimed at protecting citizens from exploitation so I wonder why some exchanges can't comply with them. Binance might be the biggest CEX in terms of userbase and Trading Volume but other exchanges like Bitget have shown trustworthiness and reliability by complying with these regulations changes. The exchange is among the most regulatory compliance CEXs we have.
I agree cos apart from the United States that has been difficult for them to comply with their harsh regulatory policy; the exchange is operating in Canada and UK where Binance and few others have left due to regulatory policy