Binance, the world’s top cryptocurrency exchange shuts down Kremlin-linked accounts
In a move to comply with international sanctions, Binance, the largest crypto exchange platform, has blocked the accounts of Russian officials. This comes after the United States imposed new sanctions on Russia earlier this week. The sanctions target Russian oligarchs and government officials.
A top executive at Binance says they are not processing any transactions in the accounts of multiple people who seem to have ties with the Russian government, according to Bloomberg article.
The new sanctions against Russia are in response to the country’s continued aggression toward Ukraine.
The sanctioned Russian officials who have had their Binance accounts blocked include the stepdaughter of Russia’s Foreign Affairs Minister, Sergei Lavrov, and a daughter of President Vladimir Putin’s spokesperson, Dmitry Peskov.
It is not clear how many Binance accounts have been blocked in total. However, the fact that Binance is willing to block the accounts of sanctioned Russian officials is a positive step. This shows that Binance is committed to complying with international sanctions. This is likely to set a precedent for other cryptocurrency exchanges. in Malta but has offices around the world.
Binance, a leading crypto exchange
With the growing popularity of crypto trading, Binance has quickly become one of the most popular crypto exchanges in the world. Offering an extensive selection of crypto assets and reliable trading features, it has gained a reputation for being one of the most user-friendly platforms out there.
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The article’s writer Noah Jones did not hold any positions in assets or companies mentioned in this article on the date of publication. His opinions are articulated herein, and the reader accepts that some opinions could change as a result of newer information being revealed.