Binance claims to operate in 100+ countries but only discloses 45

Binance is apparently in the process of selling its business unit in Russia to a newly set up entity called CommEX — a process that could take up to a year. In the press release announcing this decision, Noah Perlman, chief compliance officer for Binance, stated that the company intends to “focus our energy on the 100+ other countries in which we operate.”

This is a claim that Binance makes in other places as well, for example, on the ‘Countries and Regions‘ page on its website.

Confusingly, the page in question doesn’t list ‘100+ countries,’ only 45. It also continues to list Russia, despite the advertised sale, and separates Ukraine into two separate countries: one ‘Russian’ and one ‘Ukranian.’ The list of 45 names also considers Europe a nation.

The list also features countries where Binance’s activities have recently come under greater scrutiny, such as France, where its offices were reportedly raided by money laundering authorities.

Binance’s French arm says money laundering raid was ‘regulatory obligation’

It also lists Australia, where the company has already lost its derivatives license. Despite sacrificing that license, it was still subsequently raided by the Australian Securities and Investments Commission (ASIC).

Binance’s role around the world has come under increasing scrutiny as it faces multi-faceted legal threats. In the United States, it currently faces legal challenges from the Securities and Exchange Commission and the Commodity Futures Trading Commission. Reportedly, prosecutors are also prepared to indict the company for criminal conduct.

Fate of crypto exchange Binance hangs on US money laundering investigation

Read more: Binance US still relies on Binance for custody through Ceffu

Protos has reached out to Binance to determine exactly which unlisted countries it is operating in, and we’ll update this piece if it discloses the remaining territories.

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