Binance, the world’s largest cryptocurrency exchange, announced on Wednesday that it has initiated the process of selling its Russian operations to a newly established “community exchange” and will be completely exiting the nation.

Police in the United States and in the EU arrested five people and seized their globally operating Hong Kong-registered cryptocurrency exchange Bitzlato because it allegedly facilitated the laundering of large sums of illicit profits and converted them into Russian rubles, a Europolstatement said on Monday.