CEXs refuse blanket asset freeze of all Russian users, though questions linger
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....
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The popular cryptocurrency exchange Coinbase has addressed the request from Ukrainian officials to freeze the accounts of all Russian users. A Coinbase spokesperson noted that the digital currency platform would not “institute a blanket ban” against ordinary Russian users.
Coinbase, Coinberry, and Kucoin Follow Binance’s and Kraken’s Decision to Refuse ‘Sabotaging Ordinary Russian Users’
On Tuesday, reports indicate that the Russian invasion has escalated after peace talks at the border between Ukrainian and Russian officials failed. A....
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.....
The question of whether DeFi will take over CeFi and DEXs replace CEXs keeps lingering in people’s minds, especially since the space has begun to rise so rapidly. Yet, simply observing how CEXs (especially industry-leading CEXs) are responding to the rise of DeFi is a great reference to the development of the industry as a […]
As some platforms freeze accounts linked to Russia and Belarus, Binance said it will not block innocent Russians’ crypto assets. As the West continues to impose more sanctions against Russian banks following Russia’s invasion of Ukraine, one Ukrainian official has called for sanctions on Russians’ cryptocurrency holdings as well.Mykhailo Fedorov, minister of digital transformation of Ukraine, took to Twitter on Sunday to urge the global cryptocurrency exchanges to block addresses of Russian users.He emphasized that exchanges should freeze not only the addresses tied to Russia and Belarus....
On Monday, Japanese authorities directed cryptocurrency exchanges to refrain from processing transactions involving digital assets that are liable to asset freeze restrictions on Russia and Belarus over the Ukraine war. The move comes in response to a Friday Group of Seven (G7) statement in which Western nations announced they would enforce penalties on illegal Russian individuals who use […]