Major crypto exchanges including Coinbase and Binance are refusing a request by Ukraine to freeze all Russian accounts, saying that doing so would harm civilians and be counter to their ideals. “To unilaterally decide to ban people’s access to their crypto would fly in the face of the reason why crypto exists,” a Binance spokesperson told CNBC.
In a tweet, Ukraine’s Vice Prime Minister Mykhailo Federov asked major crypto exchanges to freeze all Russian and Belarus accounts, not just the accounts of sanctioned oligarchs. “It’s crucial to freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users,” he said.
Such a move would be in line with US and European Union sanctions against Russian banks and leadership designed to cripple the nation’s economy. However, freezing crypto holdings could directly impact regular Russian…
