Crypto Exchange CEO Rejects Call To Block Russian Users – Bitcoin Embodies Freedom

You are probably aware of the fact that Russia has been seeing financial sanctions after its attack on Ukraine. It’s also essential that the offensive against Ukraine continues, cryptocurrency exchanges are side-stepping a call to shut down Russian users’ active accounts.

According to the latest reports, the Ukrainian Vice Prime Minister and Minister of Digital Transformation Mykhailo Fedorov took to Twitter on Sunday to ask all major crypto exchanges to block the addresses of Russian users in the wake of Russia’s invasion.

Check out his important tweet below:

I’m asking all major crypto exchanges to block addresses of Russian users.

It’s crucial to freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users.

— Mykhailo Fedorov (@FedorovMykhailo) February 27, 2022

As the online publication the Daily Hodl notes, Kraken chief executive Jesse Powell replied on Twitter and said despite his deep respect for the Ukrainian people, his exchange would not freeze the accounts of Russian clients without a legal requirement to do so.

Here’s his tweet:

1/6 I understand the rationale for this request but, despite my deep respect for the Ukrainian people, @krakenfx cannot freeze the accounts of our Russian clients without a legal requirement to do so.

Russians should be aware that such a requirement could be imminent. #NYKNYC https://t.co/bMRrJzgF8N

— Jesse Powell (@jespow) February 28, 2022

He also said: “Sometimes the hardest thing about having power is knowing when not to use it. Our mission is better served by focusing on individual needs above those of any government or political faction. The People’s Money is an exit strategy for humans, a weapon for peace, not for war.”

He said: “Besides, if we were going to voluntarily freeze financial accounts of residents of countries unjustly attacking and provoking violence around the world, step 1 would be to freeze all US accounts. As a practical matter, that’s not really a viable business option for us.”

A similar move was made by Binance.