Binance chief called for peace after new restrictions on Russians were imposed
Changpeng Zhao said that cryptocurrency exchanges must comply with all sanctions
22.04.2022 - 14:00
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2 min
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What's new? Changpeng Zhao, founder and CEO of the Binance exchange, called the EU's new restrictions against Russians “a historic aggressive action.” He believes that crypto exchanges should not have the right to unilaterally freeze the accounts of users of an entire country and must comply with all sanctions. Zhao posted this on his Twitter.
What else did Zhao write? The head of Binance stressed that the exchange has complied with EU requirements to restrict citizens, companies, and residents of the Russian Federation with an account in excess of €10 000. Zhao said that world leaders must now do what is necessary to ensure peace for users, employees, and other members of the blockchain community.
What had happened before? On April 8, the European Union introduced the fifth package of sanctions against Russia, which limits Russian residents' investments in cryptocurrency to €10 000. The new rules are designed to prevent Russian oligarchs from circumventing EU investment restrictions with cryptocurrencies.
On April 21, Russian traders published a petition to abolish the limit on trading on Binance. The authors of the initiative believe that conflicts between countries should not affect the fate of ordinary people.
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