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

[stompix]

The intake I make is that they regularly block addresses (they mention (interaction with certain) addresses, not the accounts that TX with these addresses, but probably part of the same package) as per their explanation, but it’s not specifically something related to the sanctions as yet; more like historical data brought upfront to show their proactiveness or such.

Well, from my point of view it was more like, you know we were already doing this but we keep babbling non-sense about freedom for marketing purposes.

What all exchanges to date have denied is verbal request, of course, they can say no to that, but if a country powerful enough comes with a legal threat all of them will cave. They will simply make some rapid math and see that 5% is way smaller when compared to losing it all and maybe getting picked up by some agents at the airport checking.

As for Binance and CZ, I wouldn't trust a single letter from their statement, he was the guy tweeting he will sue Japanese newspapers when he was taking his bag while fleeing the country, you don't get wealthy by constantly saying the truth. If the US threatens them and Visa will be forced to shut down all the cards issued for them on top of card transactions to Binance what will he do, I'm not so sure he hasn't already handed a lot of data to authorities already while on Twitter he brags about protecting his customers.

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[Easteregg69]

How you work for peace.

So the cops knows he won't block their wallets. CZ.

Do me a favor some day. Opportunist one.

I have a story about a hammer when you are ready for it.

Fuck sake. I got muted on Trevons comment section. He is gonna compound. Youtube. Told him about the burner numbers now.

Check. I could post on Piggy Banks video. On track. Comments.

Trevon. If you read this. I am still doing porno.

Russian crypto. Let me see.

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.

Super awesome.

Why they made an independent exchange in the states. Imagine me putting my finger in the piece of cake I want.

A good entry is when you get the money out. Not cash heavy. House money.

I go for more beers. Gotta spend. The toaster is paid. Confirmation biased. Momentum.

[moderator's note: consecutive posts merged]

[onecall123]

There is a possibility Binance may no longer stick to their initial decision not to block Russian crypto wallets. The stands they take are good, because this is not what crypto was made for. The decision may lose them market share. Despite they're centralized nature. Still, pressure to the management continues, and you can no longer escape government regulation. There have been reports of numerous Russian accounts being closed. Mastercard and Visa no longer support Russian accounts. Due to this, all Mastercard and Visa Cards issued in Russia will not be available on Binance.

[Fatunad]

There is a possibility Binance may no longer stick to their initial decision not to block Russian crypto wallets. The stands they take are good, because this is not what crypto was made for. The decision may lose them market share. Despite they're centralized nature. Still, pressure to the management continues, and you can no longer escape government regulation. There have been reports of numerous Russian accounts being closed. Mastercard and Visa no longer support Russian accounts. Due to this, all Mastercard and Visa Cards issued in Russia will not be available on Binance.

So Binance is just waiting up for other platforms/services to take stance on the current Russia-UK war? Well, it could be yes or no because neither they would be sticking out with their decisions earlier.
Somehow it is true that there might be some change of minds when they do saw that everyone do really cut off ties with Russia and all possible services and other things which they might
be going along with the herd but we dont actually know on whats on the mind of CZ as of this moment when it comes to this issue.

[Sled]

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.

Binance and even the other exchanges will act neutral and that they are supposed to do, otherwise they are getting involved in the war which is not.
Binance made the right decision, might blocking their account can be possible if that is used illegally if found but as long it was not, there is no such ground of freezing their account. That I hope the other will take responsibility as well as people from Russia are still good users, though not all of them. It wasn't their take and Binance can't afford to do it coz they know a lot of people from Russia will get affected.

But even if it happens, not all of them do KYC, they can't still block them all.

[suzanne5223]

There is a possibility Binance may no longer stick to their initial decision not to block Russian crypto wallets. The stands they take are good, because this is not what crypto was made for.

Crypto is neutral but I think we're missing one important thing here that this is what CEX was made for. To be controlled by the government and if this issue persists Binance will be forced to block all Russian customer crypto wallets.
Hope the wise citizen of Russia has already moved all their crypto out of CEX.

There have been reports of numerous Russian accounts being closed.

On crypto related services?

[wilkine]

Why should Binance lock Russian customer's account? People in Russia do not want war either, it's not their decision, why blame them for this?
Binance is taking the right move.

[Ozero]

Why should Binance lock Russian customer's account? People in Russia do not want war either, it's not their decision, why blame them for this?
Binance is taking the right move.

The people in Russia actually brought the situation to an open military invasion of Ukraine themselves by allowing Putin to be in power for more than 20 years and at the same time completely control both the government and the country's legislative body. In fact, he now single-handedly controls the Russian Federation. A significant part of Russians supported Putin's actions when he seized the territories of neighboring countries, including Ukraine in 2014. Therefore, the fact that truly innocent residents of Ukraine are now dying at the hands of Russian invaders is a great fault of absolutely all citizens of Russia. The international community has no other leverage than economic pressure on the aggressor country as a whole. This should, among other things, force the Russians to do something with their dictator.
Binance refused to block Russian accounts only because it was approached by unauthorized persons and in the wrong form. This can be fixed.

[leea-1334]

There is a possibility Binance may no longer stick to their initial decision not to block Russian crypto wallets. The stands they take are good, because this is not what crypto was made for.

Personally,,, I care less about what people and companies say and "show" and more about what their policies truly show real action and real impact.

I support the efforts and I totally agree that the war should never have happened in the first place but I am 100% sure that Binance banning Russians would hurt 99% innocent people (in my mind it is even 100% innocent people).

McDonalds closing 850 stores in Russia so what. Any brand who has bad practices and evades tax does not fix it by "not supporting" Russia.

[blatchcorn]

The people in Russia actually brought the situation to an open military invasion of Ukraine themselves by allowing Putin to be in power for more than 20 years and at the same time completely control both the government and the country's legislative body. In fact, he now single-handedly controls the Russian Federation. A significant part of Russians supported Putin's actions when he seized the territories of neighboring countries, including Ukraine in 2014. Therefore, the fact that truly innocent residents of Ukraine are now dying at the hands of Russian invaders is a great fault of absolutely all citizens of Russia. The international community has no other leverage than economic pressure on the aggressor country as a whole. This should, among other things, force the Russians to do something with their dictator.
Binance refused to block Russian accounts only because it was approached by unauthorized persons and in the wrong form. This can be fixed.

Who controls Russia and China is matter of concern for native people only not outsiders. Putin and Chinese Communist Party have done hard work to bring there countries to the rank of super power, thats something west and USA ignored while doing propaganda againest them.
We need to see both side of pictures before making a final conclusion as its takes two hands to clap. Ukraine must not have provoked Russia to level of this attack.
Why should Binance block Russian accounts? Did Binance or other big financial institutes of time blocked USA accounts when they attacked Iraq, Afghanistan and Syria?

[chicken65]

The Empire Of Lies is coming for all your Bitcoin.

[henmark]

Who controls Russia and China is matter of concern for native people only not outsiders. Putin and Chinese Communist Party have done hard work to bring there countries to the rank of super power, thats something west and USA ignored while doing propaganda againest them.
We need to see both side of pictures before making a final conclusion as its takes two hands to clap. Ukraine must not have provoked Russia to level of this attack.
Why should Binance block Russian accounts? Did Binance or other big financial institutes of time blocked USA accounts when they attacked Iraq, Afghanistan and Syria?

Provoked? Are you aware that you are siding with the ones that started a war and killed thousands of innocent people? Did Ukraine even shot a single bullet? No. You can talk about whatever Ukraine did on paper, or on talking, or anything and NONE of them deserves a bullet. Do you shoot anyone in the head if they say something you do not like?

Plus, Ukraine is an openly democratic and independent nation, if they want to join Nato, they can, if they want to join EU, they can. It is their right as a nation to do whatever they want to do and Russia has no say over another nation.

So just to repeat, Ukraine as an independent nation that has absolutely no reason to listen to Russia, said they wanted to join Nato, and Russia killed thousands of innocent people and you think that "Ukraine shouldn't provoked Russia"? I hope that you would realize how bad it is what you just said, you should not say things like this, it is wrong.

[fuguebtc]

This is a war between two governments, which has nothing to do with innocent citizens. Binance did the right thing, neutral attitude. Even though Binance is a regulated centralized exchange, that doesn't mean they will do whatever the government wants. Their policy is to protect user's rights and users in Russia really they did nothing wrong here. There is no good reason for them to ruin their reputation.

[LUCKMCFLY]

You have to take into account some things, that Binance is Chinese in nature and China has a lot of cohesion and is an ally of Russia, so the chances of blocking it are almost zero, also that it would take over a much larger market such as Russia, then At the business model level, I am sure that it will be very juicy to have that monopolization, also assuming that the nature of the BTC market as well as that of the crypto market is that it is not affected by any government or bank, nature can really come to the fore here of everything.

[Vaskiy]

You have to take into account some things, that Binance is Chinese in nature and China has a lot of cohesion and is an ally of Russia, so the chances of blocking it are almost zero, also that it would take over a much larger market such as Russia, then At the business model level, I am sure that it will be very juicy to have that monopolization, also assuming that the nature of the BTC market as well as that of the crypto market is that it is not affected by any government or bank, nature can really come to the fore here of everything.

There is nothing to connect the decision of Binance with China - Russia relationship. As per my understanding Ukraine vice Prime Minister request major crypto exchanges to block addresses of Russian users. This has been the issue, and immediately Binance responded. It has frozen the accounts of people/individuals, who all are in the sanction list.

[darewaller]

There is nothing wrong with this. There is a difference between hating Russia and hating Russians. One of them is a political stance against a government that is attacking an innocent nation and killing people, the other is a racist argument to make based on just one politician that hates every citizen of that nation.

I personally believe that if Binance doesn't want to, they are a private entity and they should be allowed to do whatever they want. If they wanted to ban, that is fine too, they are private company and can do whatever they want, if they do not want to then that is fine too, it is their business to do as they wish and we should not be forcing them to do anything.

[AYYASH]

Good work against russia,When this Country Financial Block stop WAR