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Biggest Crypto Exchange Says Blocking Russians ‘Unethical’ (1)

March 2, 2022, 11:25 AM

Russians seeking ways around financial sanctions is not a “crypto-specific issue,” Binance Holdings Ltd.’s chief executive said, refuting calls to restrict all Russians from using the world’s largest cryptocurrency exchange.

Changpeng ‘CZ’ Zhao said Binance has complied with international government mandates to restrict sanctioned individuals, but that to expand that further would be “unethical for us to do.” The crypto industry follows the “same rules” as banks, he said.

WATCH: “It’s not our decision to make to freeze user accounts,” Binance CEO Changpeng Zhao says.
Source: Bloomberg

“Binance follows sanctions rules very strictly. Whoever is on the sanctions list, they won’t be able to use our platform, for whoever is not, they can,” Zhao told Bloomberg TV ...