Sunday, October 2, 2022
HomeLaw & PoliticsUkraine's vice prime minister demands crypto exchanges suspend Russian accounts

Ukraine’s vice prime minister demands crypto exchanges suspend Russian accounts

Mykhailo Fedorov, Ukraine's vice prime minister and minister of digital transformation, has asked cryptocurrency exchanges to block the accounts of both Russian and Belarussian users.

Mykhailo Fedorov has urged crypto exchanges to ban both Russian and Belarussian users’ accounts. He made this request on Twitter on February 27, after many days of fierce combat in Ukraine following Russia’s invasion of the nation late last week.

Jesse Powell, CEO of Kraken, one of the world’s largest exchanges, stated that such a move could not be made “without a legal necessity to do so,” although he added that such an order “may be coming soon.”

In a subsequent tweet, Fedorov also applauded NFT platform DMarket for freezing accounts belonging to consumers in Russia and Belarus. 

Fedorov’s request comes only days after the United States and the European Union announced a combined decision to exclude some Russian banks from SWIFT, the international payments messaging system, as well as to freeze Russia’s foreign assets.

The Ukrainian government has received millions of dollars in bitcoin, ether, and USDT since its official Twitter account issued a call for help on February 26.

 

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Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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