Topic: Binance is refusing to block Russian customer's crypto wallets. - page 4. (Read 922 times)
Yes, it should be like that, Binance acts neutrally and upholds the rights of each customers, after all Binance does not have any authority regarding the war that is happening in Russia, precisely when he imposes restrictions on his customers in Russia it will harm Binance itself. Well, I do respect Binance for his decision, he has proven to be an independent crypto market no matter what the circumstances, salute!
Binance donates to Ukraine and refuses to block Russian customers on their exchanges, I think that's the gesture of neutrality.
With that decision they've made, it's already a big help to them since they've been placed with too many sanctions that's already affecting their economy.
It's not the citizens and customers that they're against with but the action of their government towards making the conflict.
With that decision they've made, it's already a big help to them since they've been placed with too many sanctions that's already affecting their economy.
It's not the citizens and customers that they're against with but the action of their government towards making the conflict.
That's actually a good point of view and may be the actual reason why Binance has not banned Russian citizens from accessing their binance accounts.
Binance has made a donation of $10 million in crypto to Ukraine humanitarian effort group which is really a good amount to help the needy.
Also, I think it does not want to put any sanctions on Russia since it would directly reduce their profits which is why they haven't restricted access to Russian citizens.
Yeah I think I am with Binance on this. I will admit I have a very sour taste in my mouth when it comes to much of the Eastern world, namely China and Russia. This way has shown me that Russians are not as bad of a people as a whole as I thought they were. I think Binance made the right call here.
I understand how binance stands of not banning russian customers because cryptocurrency should be to all, no boundaries, race and religion. I am totally in favors with binance decision and this act will be good example should be implemented towards the future of cryptocurrencies.
Glads they made the right decision. That's why the cryptocurrency is present as modern gold and it's free to use for everyone in the blockchain. I just hate that everyone is ban any Russian related in every sector because of unfair politics, I mean they even not different than doing war in the open field
I support the decision made by Binance refusing to block Russian wallets. It indicates Binance has a high dedication to upholding the decentralized system, not influenced by the policies or decisions of any country in the world. We have to remember that Binance isn't a partnership of any government in the world, so Binance has no obligation to follow the decisions of any government. We must give appreciation to Binance that they show us a neutral attitude or a neutral decision, Binance doesn't follow the political actions of any country during this war.
Binance is just being reasonable to their clients. As most of these Russians do not want this war, it is unfair to them if they will be turned down other services like in crypto. This may be their only way to secure their assets right now, and will be used to their basic needs once this war is over. We don't know what will happen to their government, on how they will manage the funds of its people. But right now, one way to secure their assets is via crypto. At least have something left after this war.
I support the decision made by Binance refusing to block Russian wallets. It indicates Binance has a high dedication to upholding the decentralized system, not influenced by the policies or decisions of any country in the world. We have to remember that Binance isn't a partnership of any government in the world, so Binance has no obligation to follow the decisions of any government. We must give appreciation to Binance that they show us a neutral attitude or a neutral decision, Binance doesn't follow the political actions of any country during this war.
It's not only Binance, any exchange shouldn't block a user's account anyway. The fault isn't of Citizens, Binance would block government officers' accounts if they really want to do something. Any exchange would exclude a country if they want, but for that fund wouldn't be seized anyway. And excluding a country is harmful to the exchange, not for the users. There are a lot of cryptocurrency users and traders in Russia and a handsome revenue has been coming from there. So taking a strict decision means the exchange will lose the revenue from there. I don't think exchanges owners are soo stupid anyway. Rather than exchange owners could stand for Ukraine Citizens to help them like Binance.
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Binance is not the best exchange in Russia, yes, it can be one of the popular and large ones, so it will be the first exchange to cooperate with regulators. All Russian users have long been warned that their cryptocurrencies can be blocked, so many people are leaving centralized exchanges.
It is never a good idea to save crypto on a centralized exchange and I don't see any reason why Binance will block the Russian citizen wallet because of political affairs whereas crypto is neutral.For the record, Coinbase is the first cryptocurrency exchange I know co-operate with the regulator right from the time when the US SEC introduced KYC/AML.
Not long ago Binance froze accounts of Colombian citizens by order issued from Holland, regardless of the situation it was a selective freeze... it is unthinkable that all Russians have to pay for a few...but the worst thing is that these few who should be punished with a ban on their accounts benefit from that selective decision in this case. (So they prefer not to block any of them the Russian oligarchs get in)
Ah! so why if Binance freezes selective accounts like the case mentioned, because he doesn't do it now.
Ah! so why if Binance freezes selective accounts like the case mentioned, because he doesn't do it now.
Binance donates to Ukraine and refuses to block Russian customers on their exchanges, I think that's the gesture of neutrality.
With that decision they've made, it's already a big help to them since they've been placed with too many sanctions that's already affecting their economy.
It's not the citizens and customers that they're against with but the action of their government towards making the conflict.
yeah, i think so too. I think Binance is trying to be neutral and not side with anyone. proof that they donated, and did not block Russia is proof of that.With that decision they've made, it's already a big help to them since they've been placed with too many sanctions that's already affecting their economy.
It's not the citizens and customers that they're against with but the action of their government towards making the conflict.
well, however, I think that if Binance did that, crypto users from Russia would also choose other places to exchange and Binance might lose quite a bit of users. I think this is the right move from Binance.
I also think that it's a bright move by binance. Their stand is important as they're one of the biggest exchange in the world and the volume that flows in them matters to these countries.
The war is not going to remain forever and therefore, binance would never want to block the russians citizen from using their trading portal.
Russians can still trade crypto on decentralized platforms but binance would only lose their business if they ban the russia from using their site.
So far, the binance will not block anything, but you should not exclude such a possibility. Don't hold large sums on centralized exchanges, because it is always a risk, even without the threat of blocking. In the meantime, binance has stated that there will be no blocking and users from Russia, they can continue to use the services of the exchange.Russians can still trade crypto on decentralized platforms but binance would only lose their business if they ban the russia from using their site.
some exclusion but Binance is a business and they couldnt just let those kind of blocking to be that a solution on this ongoing war.They dont just like to get involved
and make business as usual which i do see also to be ethical to be done.
The war is not going to remain forever and therefore, binance would never want to block the russians citizen from using their trading portal.
Russians can still trade crypto on decentralized platforms but binance would only lose their business if they ban the russia from using their site.
So far, the binance will not block anything, but you should not exclude such a possibility. Don't hold large sums on centralized exchanges, because it is always a risk, even without the threat of blocking. In the meantime, binance has stated that there will be no blocking and users from Russia, they can continue to use the services of the exchange. Russians can still trade crypto on decentralized platforms but binance would only lose their business if they ban the russia from using their site.
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 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.
The war is not going to remain forever and therefore, binance would never want to block the russians citizen from using their trading portal.
Russians can still trade crypto on decentralized platforms but binance would only lose their business if they ban the russia from using their site.
I think it shows that Binance is committed to provide good service to it’s customers despite political pressure or government dealings. I expect this will rub some the wrong way and they will stop using the service, but personally I would be more concerned if I was a customer and they were just freezing assets of their customers for any reason they’re told. This is why DeFi is so important and I hope the Bitcoin community gets access to some good DeFi options someday soon, because it is clear that the exchanges will be the point of failure for Bitcoin going forward.
I think like this as well, I understand that people are mad at the Russian government for what is happening at Ukraine but that does not mean that every single Russian citizen needs to pay the consequences for the acts of their political and military leaders.As long as people are not doing anything illegal then no financial institution should have the right to freeze your accounts for not reason at all, so I am glad that Binance has decided to not block their Russian customers.
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.
Everyone knows that Russians don't want war, and binance made the right decision because all Russians are innocent and they also want the war to end quickly.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.
If binance did, it would be against the core principles of financial freedom inherent in crypto, and would tarnish the reputation of binance or any other crypto exchange if it did.
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 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.
If Binance does it, the whole purpose of cryptos will be defeated. Crypto is supposed to provide us with an unrestricted access to our wealth. If Binance blocks access of a particular country, it will earn them a bad reputation.
I am sure Russian common population do not want war so they should not be the sufferers. Also CZ is a Chinese person by origin and China is one of the biggest supporters of Russia. That might be another reason for not taking any action.
Well binance did what they thought is fair and I don't think that will pose any problem for them, they did not completely refuse the blockage of some of the accounts targeted by the sanctions, according to this statement from binance spokesman - "We're blocking accounts of those on the sanctions list (if they have Binance accounts) and ensuring that all sanctions are met in full," so binance will only block such account on the sanctions list and with full certainty that all sanctions where met.
Binance is not the best exchange in Russia, yes, it can be one of the popular and large ones, so it will be the first exchange to cooperate with regulators. All Russian users have long been warned that their cryptocurrencies can be blocked, so many people are leaving centralized exchanges.
I am not a Binance supporter but I think trying to lay the blame on Binance for not blocking regular Russian people is unfair giving them the light of events that they were among the first to donate to Ukraine,,, remember that those in power and the elites are less likely to be using Binance or any exchange I think.
Regular Iranians and Regular Cubans suffered for years because of idiot leaders. I always thought that was extremely unfair for them.
Regular Iranians and Regular Cubans suffered for years because of idiot leaders. I always thought that was extremely unfair for them.
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