Topic: Cryptocurrency is too small for Russia - Binance CEO - page 2. (Read 254 times)
If there's no mandate from the regulators of Binance to ban Russia on their trading platform, then he has no legal responsibility. It's a good idea not to ban the traders because we are talking here of decentralized currency and in the first place the main purpose of crypto is to get free'd up from the government full control and manipulation.
Never trust anything that CZ is saying, he is like chameleon and changes his story every day, so I won't be surprised if he comes in few weeks with announcement of blocking all accounts from Russia.
From news I was reading they are going to start working with Chinese banking system with their own credit cards, and they are totally separate from swift and mastercard/visa.
Nobody is talking about banning China because they can't, and CZ is from that same country.
From news I was reading they are going to start working with Chinese banking system with their own credit cards, and they are totally separate from swift and mastercard/visa.
Nobody is talking about banning China because they can't, and CZ is from that same country.
CZ took the right decision. I don't support war, nor Russia or Ukraine. Decentralized cryptocurrency is borderless and unstoppable, so even Binance CEO stopping trading in Russia can't freeze the funds. As a result, Russian people would use other exchanges or any other method since Cryptocurrency is legal there. If Binance froze funds and prevent Russian traders to use them, then they will lose the faith of traders. Any country would fall into this situation at any time, it doesn't prove citizen or Binance user's mistakes. War shouldn't affect Cryptocurrency anyway.
Recently, Changpeng Zhao the CEO of Binance disclosed some relevant reasons why he refused to sanction customers from Russian. He mentioned that cryptocurrency have nothing to do with the War and nothing will change if the Russians are sanctioned from using Binance Exchange. Instead the Government should focus on Banks that controls 99.7% of the money. And he noted that cryptocurrency only controls 0.3% of the global net worth today. So the whole energy transferred to bitcoin on this Russia and Ukraine crisis should be channeled on some other things like Oil and Gas instead of bitcoin or cryptocurrency.
Another important point of view he stated is that if it's a good idea to ban Russians in other countries like Paris? they are innocent and should not suffer for what they do not control.
Lastly,
https://www.binance.com/en/blog/leadership/ukraine-russia-sanctions-and-crypto-421499824684903532?ref=P3W07KOS&utm_source=BinanceLinkedIn&utm_medium=GlobalSocial&utm_campaign=GlobalSocial
Another important point of view he stated is that if it's a good idea to ban Russians in other countries like Paris? they are innocent and should not suffer for what they do not control.
Lastly,
Quote
The fact remains that the traditional financial system is far more susceptible to money laundering and sanctions-busting than crypto will ever be.
https://www.binance.com/en/blog/leadership/ukraine-russia-sanctions-and-crypto-421499824684903532?ref=P3W07KOS&utm_source=BinanceLinkedIn&utm_medium=GlobalSocial&utm_campaign=GlobalSocial
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