Crypto exchanges refuse to freeze all Russian accounts as Ukraine requested
, Ukraine's Vice Prime Minister Mykhailo Federov asked major crypto exchanges to freeze all Russian and Belarus accounts, not just the accounts of sanctioned oligarchs."It's crucial to freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users," he said.
Such a move would be in line with US and European Union sanctions against Russian banks and leadership designed to cripple the nation's economy. However, freezing crypto holdings could directly impact regular Russian citizens. Coinbase said it's already sanctioning any persons or entities in Russia as required by law, but won't go any further."A unilateral and total ban would punish ordinary Russian citizens who are enduring historic currency destabilization as a result of their government’s aggression against a democratic neighbor," it told. Binance similarly stated that it wouldn't"unilaterally freeze millions of innocent users’ accounts.
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