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HomeAltcoinsUkraine blacklists Russian crypto wallets after donations exceed USD 50 million

Ukraine blacklists Russian crypto wallets after donations exceed USD 50 million

As a result of a nationwide campaign to identify and ban illicit addresses, Ukraine has acquired a huge number of cryptocurrency wallet addresses associated with Russian officials.

On February 26, Mykhailo Fedorov, Ukraine’s de facto head of crypto-related concerns, requested this information on the government’s behalf. On Twitter, Fedorov, the deputy prime minister and minister of digital transformation, made a request for information on cryptocurrency wallets operated by Russian and Belarusian officials. 

The blacklist has been established to “assist all crypto exchanges across the globe in labelling politicians, their families, partners, and children,” as well as to “stop dealing with the politicians, to squeeze them out of the crypto industry.”

Ukraine has also asked that several cryptocurrency exchanges restrict Russian user accounts in order to guarantee that Russia’s sanctions are fully implemented. In light of the growing financial penalties Russia is facing, cryptocurrency exchanges Binance and Kraken say they won’t close accounts for Russian customers because of this.

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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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