Binance, World’s Biggest Crypto Exchange Refuses to Shut Down all Russian Accounts Despite Ukraine’s Plea

Binance, World’s Biggest Crypto Exchange Refuses to Shut Down all Russian Accounts Despite Ukraine’s Plea

  • Binance, the world's biggest cryptocurrency exchange platform has refused Ukraine's plea to block accounts of Russians
  • The company said it will put a blanket freeze on all accounts of Russians but on those sanctioned by the international community
  • The Ukrainian vice prime minister, Mykhailo Fedorove implored Binance to not only block accounts of Russians but Belarusians and their politicians

Binance, the world’s largest cryptocurrency exchange outfit said it will block only accounts of Russians who have been sanctioned but will not apply a blanket freeze on all Russian accounts.

The company was reacting to the plea by Ukraine’s Vice Prime Minister, who called on Binance to ensure that no Russian users on crypto on their platform, CNBC reports.

Binance refuses to block Russians' crypto accounts
Binance refuses to block Russians' crypto accounts Credit: SOPA Images / Contributor
Source: Getty Images

It said it will not freeze millions of innocent users’ accounts, according to a spokesman for the company.

Read also

Just in: Putin bans Russians from transferring money abroad as western sanctions bite harder

A plea from Ukraine

The vice prime minister, Mykhailo Fedorov of Ukraine urged exchanges to block addresses of Russians.

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Fedorov also said that not only should the exchanges block accounts of Russians but Belarusians as well and their politicians who have been enablers of the Kremlin.

Belarus is a Russian ally.

Ukraine holds off rampaging Russian troops

The unprovoked attack by Russia against Ukraine continues but the country’s forces are said to be largely holding off against the Russians who have been rendered disoriented as Google has disabled its Map services and the country said it will dismantle all road signs.

The US and the European Union have continued to pile pressure on Russia, targeting Russian banks, sovereign debt, Putin’s inner circle and the president himself.

Binance said it will only block the accounts if the international community widen the scope of their sanctions against persons and entities and not innocent citizens.

Read also

Russia-Ukraine war: Google disables Map services in Ukraine to derail Russian troops

Donations pour in for Ukraine from all over the world, N2 Billion worth of crypto donated

Legit.ng has reported that The world is rallying around embattled Ukraine in an unprecedented manner as the Russian invasion intensify.

In the 72 hours, the Ukrainian government has an increase in financial aid come from all over the world.

So far, the government has received about N2 billion worth of crypto as it pleads for donations in digital currencies.

Source: Legit.ng

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