Binance announced that it no longer accepts cardholders from sanctioned banks as customers
(Photo: Reuters)
New York, Frankfurt After politicians increasingly pointed out that Russians could use cryptocurrencies to circumvent sanctions in certain cases, the crypto exchanges are now at the center of the debate.
Last weekend, Ukraine’s Deputy Prime Minister Mykhailo Fedorov asked via Twitter that major crypto exchanges block the addresses of Russian users. It is crucial to freeze the addresses of “normal” users in addition to the “addresses linked to Russian and Belarusian politicians”.
However, the largest crypto exchange Binance does not want to meet the demand, as it announced at the beginning of the week. “Binance is adhering to the sanctions requirements,” said Binance boss Changpeng Zhao. Anyone who signs up with the major exchanges must verify their identity and deposit a bank card.
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