Post
Topic
Board Bitcoin Discussion
Re: Binance is refusing to block Russian customer's crypto wallets.
by
naira
on 04/03/2022, 15:49:36 UTC
Source: https://www.cnbc.com/2022/02/28/binance-will-not-block-russian-accounts-after-ukraine-request.html


Binance is refusing to lock account belonging to Russian customer's, what is your take on this? I believe that this might be a better move due to Russian Citizens that don't desire war still being able to move their Roubles to crypto for safe storage.
You need to know, not all Russian citizens support the invasion. So what Binance did was a wise move that shouldn't be judging Russians as a whole. After all, Binance also doesn't want Russian users with big finances to walking away from the exchange. It will automatically experience a sharp decline and Binance earnings will also suffer.

I think this is a wise move as Binance is not an authoritarian exchange, they do condemn the invasion but to restrict or block Russian traders from Binance is not a wise move. Cryptocurrency is a system of financial freedom and it should be valid forever. Precisely the role of cryptocurrencies here has helped both the Ukrainians who made the donations and the Russians who still have a store of value in crypto, especially in Bitcoin.