Bbabo NET

Science & Technology News

Binance and Kraken refused to block the Russians: “This is contrary to the nature of the crypt”

The world's largest crypto exchange Binance refused to block the accounts of Russians: “Cryptocurrency is designed to provide greater financial freedom for people around the world. The unilateral decision to ban people from accessing their cryptocurrencies goes against the very reason for the existence of cryptocurrencies,” a representative of the exchange said in a comment to CNBC.

Jesse Powell, chief executive of another major crypto exchange Kraken, made a similar statement on Twitter: “We cannot block the accounts of Russian clients without appropriate legal requirements.”

Jesse Powell said that such a requirement is contrary to the "libertarian values" of bitcoin, and cryptocurrency should be "a weapon of peace, not war." He added that the company's mission is to bring people into the "world of cryptocurrencies, where arbitrary lines on the cards no longer matter, where they do not have to worry about being subject to indiscriminate confiscation of their savings" (as happened many times in the fiat world).

A Coinbase spokesperson told Motherboard that the company will not comply with the requirement to block all Russian users. In his opinion, this will harm ordinary Russians. At the same time, the American company Coinbase complies with existing sanctions: “Our mission is to increase economic freedom in the world. A unilateral and complete ban will punish ordinary Russian citizens who are experiencing a historic destabilization of the currency,” he said.

KuCoin CEO Johnny Liu also told CNBC that the company considers itself a "platform neutral" that will not do anything beyond what is required by law.

A minute of care from UFO

This material may have caused conflicting feelings, so before writing a comment, brush up on something important:

How to write a comment and survive Do not write offensive comments, do not get personal.

Refrain from obscene language and toxic behavior (even in a veiled form).

To report comments that violate site rules, use the "Report" button (if available) or the feedback form.

What to do if: minus karma | blocked account

→ Code of authors a and aetiquette

→ Full version of site rules

Binance and Kraken refused to block the Russians: “This is contrary to the nature of the crypt”