Binance is refusing to block Russian customer's crypto wallets.

[cheezcarls]

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.

To be honest, I can feel what the ordinary anti-war Russian citizens are feeling right now in getting "isolated" from the world like the SWIFT, hard sanctions, etc., because of Putin and his cronies. They don't want this, because their global reputation is at stake.

I have a beautiful friend of Russia who is a crypto, DeFi and NFT advocate. For sure, she would be "devastated" if Binance and other crypto exchanges are going to block ordinary Russians from doing crypto trading and other transactions as usual.

[Cling18]

It's a good thing that Binance is considering Russian users' welfare. I wonder why others are aiming to bring down the people of Russia by banning, boycotting and discriminating them even though they're also a victim of this current war. We should not let innocent people suffer as well as businesses because most of them also want peace but they're being torned because of their nationality. We should also be fair to those who don't want war.

[Rruchi man]

Binance is refusing to lock account belonging to Russian customer's, what is your take on this?

Binance owes this to their Russian customers who have been loyal to them over the years. It is a personal decision for Binance management and i feel they shouldn't be forced into decision of locking accounts owned by Russians or castigated for not following the crowd. If they did, it would have affected the decision/opinions of many others including myself who aren't even russian but understand that what is happening to russians can happen to anyone.

[OgNasty]

Binance is refusing to lock account belonging to Russian customer's, what is your take on this?

Binance owes this to their Russian customers who have been loyal to them over the years.

Not just that, but a lot of Russian people do not support this war.  They are facing the consequences of actions they don't want to be happening.  Their stock market is wrecked, their currency is fading fast...  It isn't their fault.  Many of them are probably seeing Bitcoin as a lifeline to protect their life savings.  It would be wrong to lock these people out of the system just because of a government disagreement.  There is KYC in place to make sure that Putin isn't using Binance to avoid sanctions.  I think a lot of people just want to cause Russia the most harm possible, without thinking about the fact that there are real people suffering on both sides of this war, and I'm sure a vast majority of them wish it had never happened.

[TelolettOm]

I wonder why should lcok? Not all Russians or Ukraine are willing to have any war. And this is a business that will be always business. Binance may be going to lose many users if they must block Russian users. So, this will not happen. Moroever, it is business again, and this is also about personal choice where sometimes, Russian will also not really want to war and will not care aboutt the war.
If Binance do locking to their wallet, the problem amy be further bigger to Binance tself.

[Lanatsa]

In trail time this is where you know who got you, besides this is what bitcoin is made for.
Russians must have invested a huge some in binance, breaching their trust in them at this times will be too bad.
If they do block Russian account, I be wondering how they gone do this.

Not only Russians would lose up trust but also in other nationalities as well on which they dont really take up some consideration specially now on hardest days of their lives because of the war that they are experiencing

as of this moment.It is really just right that they dont give out that kind of decision on blocking Russian customers which is really a good call if you do ask me, they do know on what to do
and also it has nothing to do with any legal or jurisdiction about on this current scenario or condition.

[asus09]

A very good step taken by binance, even though we know the invasion carried out by Russia on Ukraine, various economic sanctions began to be aggressively imposed on Russia, including the Chelsea boss also suffered the same fate, suffered tremendous losses, even news circulated Chelsea boss wants to sell his shares to other investors, luckily there is Binance ready to accommodate investors to switch to krypto, to still be able to do international transactions..

[ropyu1978]

I wonder why should lcok? Not all Russians or Ukraine are willing to have any war. And this is a business that will be always business. Binance may be going to lose many users if they must block Russian users. So, this will not happen. Moroever, it is business again, and this is also about personal choice where sometimes, Russian will also not really want to war and will not care aboutt the war.
If Binance do locking to their wallet, the problem amy be further bigger to Binance tself.

In my opinion, justice is being played by those in power, such as the United States and Australia which completely boycotted Russian investors, even FIFA has made a decision not to allow the Russian team to participate in any competitions. I don't want the war to have a tremendous impact, even though there are some who think negatively about Binance who doesn't want to block crypto, but I'm personally very grateful to Binance, which provides space for investors, to be able to continue their business..

[Obito]

This is a double-edged sword though, on one hand it's good for the innocent people to evacuate their money out of their collapsing economy but on the other, it's a way to finance Russian military since they're going to need money to be able to make sure that the campaign will continue and that they're going to get their soldiers paid and have their resources replenished without worrying about the payment or the money.

[Frengki_cisco]

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.

I support and agree with Binance's decision, especially Russian citizens who have accounts on Binance, I think Binance is standing impartially to anyone, I'm also happy to hear this news, that's what Binance has to do.

I consider Binance's decision to be the best decision for its customers around the world.

[Ozero]

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.

Cryptocurrency exchange Binance is doing the right thing so far. The request of the government of Ukraine is not a legal basis for blocking the cryptocurrency accounts of Russian citizens. After all, they can file lawsuits and the exchange will have to compensate them for the damage. But if such a decision is drawn up correctly and it will already come from the regulatory authorities at the place of registration of the exchange, then it will have to obey. Otherwise, she may be banned from working in the market.

[m2017]

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.

Well, at least someone has iron ballz, doesn't bend under the general hysteria and has the courage to declare this to the whole world. We perceive such an event as some kind of heroism, but is it really supposed to be like that? Maintaining neutrality should be a priority for all such exchange platforms.

As for Binance, I would not harbor big illusions: they can change their mind at any time. You don't need to rule this option out either.

[adzino]

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.

They would be losing more users if they do this. More people will start to thing twice before using a centralized exchange. What if their accounts accounts are next? Moreover, not all Russians are for the war. There are many that condemns the war. Why punish them? By the way, they are not freezing "users" crypto wallets, they are freezing their funds. The funds you send on your Binance wallet, never stays there. Check your transaction on blockchain. The funds usually gets moved to Binance's hot wallet as soon as the required confirmation has been reached.

[Ararbermas]

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.

well that would be fair because indeed russian doesn't want war to Ukrainians, for me only putin needs a punishment behind of that conflict because of his personal interest.
Wherein government must freeze all of his bank account and Russian should not be included because they are innocents as well even those rusian troops that being duped into war..

[masterrex]

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.

IMO, I believe that Binance doing is right because those Russian crypto users are not part or involved in the invasion and I also believe that they don't want the war only Putin wants it, and because of this many innocent people in Russia has suffering now with the mistake committed by Putin those sanctions are designed to make people suffer by destabilizing their economy to force its leader to do something but Putin has not done it so far. to be exact both Binance and Coinbase are also declining the Ukraine request. 

[Fortify]

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.

While I don't believe average Russia ln citizens should have their funds seized or even frozen, Binance is playing a very risky game. They stated in the last they'd like a US listing, but they're more likely to end up with a US jail cell if they keep antagonizing financial authorities. It was a stunning and previously unthinkable display to cut most of Russia off from SWIFT, so it just goes to show how far most countries are willing to go in enforcing financial sanctions against the country. Ultimately Binance, or at least it's payment processor partners, might find out that they are no longer permitted to accept things like Visa or MasterCard in future. It's a very dangerous route for them to take for what must be a relatively insignificant market for their products.

[giammangiato]

I find Binance's choice right, but looking at the other side of the coin, what could be done to stop these madmen? In addition to sanctions, one can only deal with an agreement or a world war, but binance like so many others have economic interests, such as Switzerland for example which is adopting cryptocurrencies, I see several shifts of money in the direction of crypto, Russian citizens who have no faults in somehow they gotta die? I don't think so, war causes harm to everyone without distinction

[molsewid]

They would be losing more users if they do this. More people will start to thing twice before using a centralized exchange. What if their accounts accounts are next? Moreover, not all Russians are for the war. There are many that condemns the war. Why punish them? By the way, they are not freezing "users" crypto wallets, they are freezing their funds. The funds you send on your Binance wallet, never stays there. Check your transaction on blockchain. The funds usually gets moved to Binance's hot wallet as soon as the required confirmation has been reached.

Yeah most probably, Binance would be losing more users if they do this. For me, Binance just did the right choice to refuse to block Russian customer's if the main reason is just because of the war. It would be unfair for the citizens of Russia because probably not all of them want a war, they just also like us wanted to live in a peaceful place. There's no point of blocking them to access, use, and transact their own assets using this platform.

[upthestairss5]

Everyone in Russia, who is smart enough to know how to use crypto, definitely doesn't believe in their government. Good move.

[ololajulo]

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.

I support this Idea, most Russians do not support Putin with this war even some of his soldiers. so why should they be victim? Binance has always been the last place for such ban. They didnt delist or ban XRP which is in court till date so how will binance lead such campaign against the citizens of Russia. Russian are also victim of the war, Putin should be criticized instead.