Ukraine asks exchanges to freeze crypto accounts
Mykhailo Fedorov, Ukraine's minister of digital transformation, tweeted on Sunday that he hopes crypto exchanges will block the addresses of Russian users. In his opinion, it would be important not only to freeze addresses associated with Russian and Belarusian politicians but also to sabotage ordinary users. In a later tweet, Fedorov praised a move by NFT platform DMarket to freeze the accounts of customers in Russia and Belarus.Fedorov's appeal comes days after the United States and the European Union jointly decided to exclude certain Russian banks from SWIFT, the international payments system, and also to freeze the foreign assets of the Russian Central Bank.
Crypto exchanges react to the request
Kraken CEO Jesse Powell said that while he respected the sentiment, he would not block Russian users in light of the Russian invasion of Ukraine. However, he added that Russian users should be aware that such an order "could be imminent." He further adds that Kraken FX's mission is "better served by focusing on individual needs above those of any government or political faction" and that "the People's Money is an exit strategy for humans, a weapon for peace, not for war."Cryptocurrency exchange Binance also announced that it has no plans to unilaterally freeze user accounts in Russia. However, the exchange told The Wall Street Journal that it will take action against those blacklisted by the West while minimizing the impact on innocent users. The company added that it will comply with all other sanctions imposed by the international community.
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