Should Crypto Exchanges Ban Russian Users? Kraken CEO’s Opinion
Amongst the fundamental values of crypto, an important point is having financial freedom for all. Crypto is meant to be an unbiased tool, untied to the strings of governments and banks, a tool against oppression and authoritarianism. If your money can be taken away from you by regimes and governments, is it truly your money? […]
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Per a report from the Japan Times, the Asian country has started to discuss ways in which Russia could use crypto to escape sanctions. The Russian Federation has been hit by the international community after the consummation of their invasion of Ukraine. Related Reading | Should Crypto Exchanges Ban Russian Users? Kraken CEO’s Opinion Thus, […]
Former Kraken CEO Jesse Powell previously warned crypto investors about the risks of holding crypto on a centralized exchange. Kraken is the latest cryptocurrency exchange to restrict accounts of Russian users on its platform in compliance with sanctions from the European Union.On Oct. 19, Kraken sent out email statements to its Russian clients to announce that the exchange is halting services to its Russian customers.“Due to the new European legislation, we have to take measures to restrict your Kraken account,” the company said. According to an email statement seen by Cointelegraph,....
The vice prime minister of Ukraine has asked all major cryptocurrency exchanges to freeze accounts of all Russian users. However, some crypto exchanges have already denied the request. Binance confirmed it is “not going to unilaterally freeze millions of innocent users’ accounts” while Kraken says it is “not really a viable business option for us.” Ukraine Wants Accounts of All Russian Crypto Users Frozen Mykhailo Fedorov, vice prime minister of Ukraine, tweeted Sunday asking all major cryptocurrency exchanges to block addresses of Russian users.....
If Western sanctions ramp up, CEXs may be forced to ban all Russian users from using their services, as they have previous done in Iran. Centralized exchanges (CEX) and CEOs from companies such as Binance, Coinbase and Kraken have all stated they would only freeze the assets of Russian clients specifically targeted by Western sanctions — not that of everyday Russian users.A few days prior, Mykhailo Fedorov, Ukraine’s minister of digital transformation, had called for “all major crypto exchanges to block [wallet] addresses of Russians” and “also to sabotage ordinary users [by freezing their....
Bitcoin exchanges are everywhere and navigating them can be confusing, while finding the right one for your needs can be impossible. With this in mind, CoinTelegraph presents a series of articles briefly reviewing 10 of the most well-known exchanges in which their pros and cons are each placed in the spotlight. We selected BitStamp, Bitfinex, BTC China, ICBIT, LakeBTC, hitbtc, btc-e, Kraken, ANXBTC and Cryptsy to be included in the reviews, the first of which concentrates on usability and interface. Bringing up the rear in terms of functionality and interface, especially for non-Russian....