e’s Request to Freeze n Bitcoin

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e's Request to Freeze n Bitcoin

e’s Request to Freeze n Bitcoin

Some platforms have frozen accounts linked to  and Belarus. However, Binance has stated that it will not block the crypto assets of innocent ns. The West imposed new sanctions on n banks in the aftermath of ’s invasion of e; one ian official has called for sanctions on n cryptocurrency holdings.

e’s Minister of Digital Transformation, Mykhailo Fedorov, took to Twitter on Sunday to urge global cryptocurrency exchanges to block n users’ addresses.

Fedorov later pointed out that some industry-related services, including the nonfungible token platform DMarket, have already moved to freeze assets from  and Belarus. ns have been increasingly cashing out their bank holding. They have been considering crypto investments as the n ruble has fallen against the US dollar and the euro. As a result, BestChange, a prominent n crypto exchange aggregator, has seen a 20% increase in visits since ’s invasion of e.

Leaving  could be disastrous for major global exchanges such as Binance. After Turkey, the n market is Binance’s second-largest market in terms of website traffic.

Some cryptocurrency executives believe that sanctions against  are unavoidable. However, they should only target specific individuals, as the US Office of Foreign Assets Control usually does. Kraken CEO Jesse Powell also stated that without a legal requirement, the Kraken exchange would be unable to freeze the accounts of the exchange’s n clients. Powell previously advised Kraken users to withdraw their crypto assets from the exchanges; he cited Canada’s Emergency Act, which freezes the crypto of dissidents.

Binance launched the e Emergency Relief Fund on Sunday to provide emergency relief through crypto crowdfunding. In addition, the cryptocurrency exchange donated $10 million to aid in the humanitarian crisis in e.

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