Binance refused to block accounts of Russian users

The platform's representatives said that no restrictions on work for citizens of the Russian Federation are expected

28.02.2022 - 12:05

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What’s new? The Binance cryptocurrency exchange refused to freeze hundreds of thousands of accounts of Russian users. The platform did not block the wallets of clients, despite the requirements of the Ministry of Digital Transformation of Ukraine.

Information on the RBC website

What do the Binance representatives say? The exchange representatives noted:

“Crypto is meant to provide greater financial freedom for people across the globe. To unilaterally decide to ban people’s access to their crypto would fly in the face of the reason why crypto exists.”

Who restricted access to accounts? On the CEX IO platform, access was restricted for new users from Russia, Belarus, and Ukraine. By new, we mean accounts registered less than four months ago. Representatives of BTC Alpha stated that “they are forced to suspend the platform for Russian citizens until the situation in Ukraine stabilizes.”

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