After the start of the war between Russia and Ukraine, a significant amount of sanctions were imposed on Russia. While the sanctions in question shook the Russian economy, no serious steps were taken towards cryptocurrency exchanges. In addition Coinbase and Binance Cryptocurrency exchanges such as Russian refused to ban users access. Ukraine now wants to try another method.
Ukraine’s Deputy Minister of Digital Transformation Alex Bornyakov He called for a boycott of cryptocurrency exchanges that will continue to operate within Russia. In his latest interview with Reuters, the minister emphasized that all exchanges should go to a complete ban on Russia.
Private companies are known for what they do, and they show what they actually support. If cryptocurrency exchanges do not go into a full ban on Russian users, we will boycott them.”
Ministry of Digital TransformationIn his previous call, he requested both a general ban on crypto currency exchanges and imposing sanctions on exchanges from the EU and the USA. Cryptocurrency exchanges’ refusal to ban Russian users, who may be innocent, received approval from the world press.
Although Coinbase recently stated that 25,000 wallets linked to illegal activities were blocked, it did not impose a general ban on Russian users.
How Ukraine will respond to this new call will become clear in the coming days as the color of the war changes.