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Author Topic: Black List of crypto exchanges! (BANS and confiscation)  (Read 250 times)
stompix
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April 20, 2022, 04:16:20 PM
Merited by Rikafip (1)
 #21

Black List of crypto Exchanges! Which can ban you and confiscate your funds at any moment under the pressure of one or the other globalists.
Due to Putin's military invasion of Ukraine, some crypto-exchanges, preventively, without official legal requests and regulatory pressure from globalists,

Oh, the evil globalist.
How about you do one thing if you're against globalism, trade only with your own currency in your own national exchange and don't go global?
It's their companies, a private business and they can act how they want, you can't force somebody to make business with you just because you're "innocent".

And now for the cold shower on your dream of the blacklist and stigmatized honor, you know why nobody will give a damn about this?
Because you yourself didn't give a damn before on how those exchanges are banning other countries, you haven't stated atopic about how every banned country find itself on one of that list, you didn't give a damn till your own personal finances took a hit, this is the real world and the way it works right now.
And why should some users praise Binance for not banning Russian accounts when Binance restricted bank transfers from Nigeria?
Have you protested then, no, you didn't care! And much to your surprise, 99.9% of the world won't care about your issue either.

Such behavior is UNACCEPTABLE and contradicts the very essence of the cryptosphere.

The very essence of crypto is not your keys not your coins and the removal of the third party in a transaction, what you're doing using a cex is against the very essence of bitcoin.  Wink

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Rikafip
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April 21, 2022, 07:55:27 AM
Merited by o_e_l_e_o (4), stompix (1)
 #22

New restrictions for Russian Binance users if they have over 10,000 euro worth of crypto deposited there.


Following the EU’s fifth package of restrictive measures against Russia, Binance is required to limit services for Russian nationals or natural persons residing in Russia, or legal entities established in Russia, that have crypto assets exceeding the value of 10,000 EUR. As such, we require you to complete your proof-of-address verification.

Accounts that classify under this restriction will be put into withdrawal-only mode. No deposits or trading will be permitted on these accounts. The limit also covers all spot, futures, custody wallets, and staked and earned deposits. In addition, all deposits to accounts for Russian nationals or natural persons residing in Russia, or legal entities established in Russia with over 10,000 EUR will be restricted

stompix
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April 21, 2022, 08:22:15 AM
Merited by o_e_l_e_o (4), Rikafip (1), Doan9269 (1)
 #23

New restrictions for Russian Binance users if they have over 10,000 euro worth of crypto deposited there.

 Roll Eyes

I just love the crypto world, this habit of ruining people's predictions in 24 hours or going 180 degrees just after something was announced as well as this one, for example, you can't say life is boring in crypto.

But what does this even mean,

Quote
Accounts that classify under this restriction will be put into withdrawal-only mode.
ok,go it..
Quote
In addition, all deposits to accounts for Russian nationals or natural persons residing in Russia, or legal entities established in Russia with over 10,000 EUR will be restricted
How can be these restricted even further?

Anyhow, how long has it taken for CZ to cave in? One week?
From the guy that said once Binance needs no country to reside in and no license to operate he seems quite eager to follow legislation lately.






Rikafip
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April 21, 2022, 09:37:30 AM
 #24

I just love the crypto world, this habit of ruining people's predictions in 24 hours or going 180 degrees just after something was announced as well as this one, for example, you can't say life is boring in crypto.
Hm I am not sure that I follow, did CZ say something completely different to what happened now? I mean in the last few days.


Anyhow, how long has it taken for CZ to cave in? One week?
From the guy that said once Binance needs no country to reside in and no license to operate he seems quite eager to follow legislation lately.
Hah yeah, it was definitely expected. And not he doesn't have issues following regulations closely but he is at the forefront of it. If anything, I hope stuff like this make people realize not to store their crypto on centralized exchanges, no matter how "reputable" they are.


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April 21, 2022, 02:05:50 PM
 #25

I don't see any point of making such Black List of exchanges, and even less I don't think you are touching anyone with your alleged ''shaming'' of exchanges.
Binance is pure definition for succumbiness.

New restrictions for Russian Binance users if they have over 10,000 euro worth of crypto deposited there.
I think that CZ and Binance are acting like they are blackmailed for some time, maybe they could lose license if they don't follow exact directive from someone.
First it was total reducing limits and them removal of trading without kyc, now they are slowly limiting users on different things, next thing will be confiscating funds and banning accounts.
This isn't different at all from central banks, if not even worse because people say Binance is safu  Cheesy

Rikafip
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April 21, 2022, 02:57:25 PM
 #26

I think that CZ and Binance are acting like they are blackmailed for some time, maybe they could lose license if they don't follow exact directive from someone.
First it was total reducing limits and them removal of trading without kyc, now they are slowly limiting users on different things, next thing will be confiscating funds and banning accounts.
Or maybe  it's more about them sucking up to the authorities rather than being blackmailed and having to do all these things. Who knows what they also do plan to do so the wanna stay on  government's good side, just in case. They are spreading into everything so for them regulation is not necessarily a bad thing at all as it will mean more money for them in the long run. You can say many things about CZ, but you can't say that he lacks ambition.


This isn't different at all from central banks, if not even worse because people say Binance is safu  Cheesy
Binance is far worse than any bank, no questions about it.

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April 21, 2022, 07:05:02 PM
 #27

People need to realize that centralized exchanges are fiat institutions which happen to interact with bitcoin, and not a bitcoin service which happens to also handle some fiat. As fiat institutions, they are an extension of the fiat system and, by proxy, an extension of the government which owns and operates that fiat system. Any coins left on a fiat exchange are not yours. If you hold your bitcoin on an exchange, then you don't own any bitcoin. All you own is a promise; a promise that can be revoked without warning and at any time.

I discussed this a few weeks ago here: Recent events should make everyone withdraw all their coins to their own wallets. If this kind of thing isn't a wake up call to everyone to get your coins in to your own wallet, then I don't know what will be, and you really have no one left to blame when you lose everything to another centralized exchanges restricting or locking your account.

aysg76
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April 22, 2022, 09:07:23 AM
 #28

New restrictions for Russian Binance users if they have over 10,000 euro worth of crypto deposited there.
They have implemented the EU sanctions over Russia amid the war crisis and have limited the Russian Binance user to deposit or trade over €10000 and they can only withdraw the amounts.Although if you are residing outside the Russia being it's citizens and Binance user you will have to verify your proof of address with them.

Quote
Russian nationals or natural persons residing in Russia, or legal entities established in Russia, with open Futures/Derivatives positions, and who have crypto account balances that exceed 10,000 EUR will be given 90 days to close out their positions. No new positions will be allowed to be added.

Russia is also having lot of crypto users and Binance base is strong there but according to one Bloomberg article most users are having less than €10000

Quote
Russia is one of Binance’s top five markets globally with about 10 million total accounts, two people familiar with the matter said. It’s estimated that fewer than 50,000 actually hold a value exceeding 10,000 euros, one of the people said.


People need to realize that centralized exchanges are fiat institutions which happen to interact with bitcoin, and not a bitcoin service which happens to also handle some fiat. As fiat institutions, they are an extension of the fiat system and, by proxy, an extension of the government which owns and operates that fiat system. Any coins left on a fiat exchange are not yours. If you hold your bitcoin on an exchange, then you don't own any bitcoin. All you own is a promise; a promise that can be revoked without warning and at any time.
That's the thing people are not realising the risk associated with storing your coins on these centralised platforms which act as central authoritative chain asking for full documentation and KYC from you first of all then can restrict you from making transactions with your funds only.They already are in possession of your keys and having third party outsourcing for saving the data whose data can be compromised anytime and hacks happen this way stealing whole lot of funds and you can't do anything as you have agreed to their T&C beforehand.

Calling them fiat extension chain is absolutely correct because they are acting same like them or even worse with your keys lying with them giving them full ownership of your funds.These restrictions are not new and recently we have seen Coinbase also imposing restrictions for Canada users for transactions worth $1000 above only and have to fill out the recipient extra details like exposing yourself full to them.

I discussed this a few weeks ago here: Recent events should make everyone withdraw all their coins to their own wallets. If this kind of thing isn't a wake up call to everyone to get your coins in to your own wallet, then I don't know what will be, and you really have no one left to blame when you lose everything to another centralized exchanges restricting or locking your account.
The problem is people are not waking up to these alarming calls which is why CZ,Brian and others have climbed up to the Forbes list with billions dollars of networth in such short time span.You need to have your funds in hardware wallets with keys on offline storage with backup so as your fund lies with you and security perspective remains uncompromised.


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