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Russian Users Will Not Be Blocked by Binance.

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In light of Russia’s escalating financial sanctions, cryptocurrency exchanges Binance and Kraken have ruled out blocking accounts for Russian users.

“We will not freeze the accounts of millions of innocent people unilaterally.”
Cryptocurrency was created to provide people worldwide greater financial independence,” a spokesman of the exchange told Reuters, an international news agency.

Binance’s move comes after Ukrainian authorities pushed cryptocurrency exchanges to take action against Russian users as part of the country’s post-invasion crackdown.

Kraken previously indicated that the move could only be carried out legally. However, Russian consumers should be prepared for the possibility of freezing, according to Jesse Powell, CEO of the stock exchange.
“I understand the reasoning behind this request, but despite my strong admiration for the Ukrainian people, Kraken is unable to freeze the accounts of our Russian customers in the absence of a legal obligation. The Russians should however d be warned that such a scenario is possible, “ he stated.

Binance, the world’s largest cryptocurrency exchange, has proclaimed its support for Ukraine in the aftermath of all of this.

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