Ukraine’s Request For Crypto Exchanges to Halt Services to Russians Gets Dismissed
Ukraine’s Ministry of Digital has reached out to 8 leading cryptocurrency exchanges asking them to halt services to Russian users.
Letters were sent out on Sunday to Coinbase, Binance, Huobi, KuCoin, Bybit, Gate.io and Whitebit, and Ukrainian exchange Kuna.
Binance, Coinbase and Kraken have all said not to ban Russian users from its platforms, all stating that they are proponents of economic freedom and that the majority of users are anti-war.
“We’re blocking accounts of those on the sanctions list (if they have Binance accounts) and ensuring that all sanctions are met in full,” a Binance spokesperson said, noting that it will not freeze the accounts of other Russians.
Jesse Powell, CEO of Kraken, said:
“I would guess that the vast majority of crypto holders on @krakenfx are anti-war. #Bitcoin is the embodiment of libertarian values, which strongly favor individualism and human rights. In Canada, crypto was the only financial rail left for those who opposed the regime.”
1/6 I understand the rationale for this request but, despite my deep respect for the Ukrainian people, @krakenfx cannot freeze the accounts of our Russian clients without a legal requirement to do so.
Russians should be aware that such a requirement could be imminent. #NYKNYC https://t.co/bMRrJzgF8N
— Jesse Powell (@jespow) February 28, 2022
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Coinbase stated:
“Our mission is to increase economic freedom in the world. A unilateral and total ban would punish ordinary Russian citizens who are enduring historic currency destabilization as a result of their government’s aggression against a democratic neighbor.”
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Source: igaming
