Although the crypto money industry is mostly referred to as decentralized, it is known that exchanges are not fully involved in it.
Cryptocurrency exchanges have a centralized management and operation. For this reason, it is quite possible to freeze the accounts of certain people.
Russian Citizens’ Accounts Can Be Closed
CEO of Kraken cryptocurrency exchange Jesse Powell and made a warning and a statement in exactly this direction. Vice President of Ukraine Mykhailo Fedorov A call made by the apostles may soon gain legitimacy.
Fedorov demanded that all cryptocurrency exchanges freeze the accounts of Russian users. Fedorov, who said that not only politicians but also citizens’ accounts should be frozen, received a response from Jesse Powell.
Powell stated that as a cryptocurrency exchange, they cannot do this without an official and legal requirement, and they cannot freeze the accounts of Russian customers.
Afterwards, Powell addressed the Russian citizens and stated that such a decision could come very soon. If the US makes such a requirement, Kraken will have to comply.
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
Emphasizing that Bitcoin has an anti-war structure and users on Kraken are also in this structure, Powell also drew attention to Canada.
Canada’s request to freeze cryptocurrency accounts received a lot of backlash, and people were stunned by the fact that this was done by the government. However, punishing innocent Russian citizens just because of the government’s steps would be an extreme move.