Wednesday, May 29, 2024
HomeBTCUkrainian Minister demands halt to Russian transactions

Ukrainian Minister demands halt to Russian transactions

Ukraine’s Vice Prime Minister, Mykhailo Fedorov, once again asked cryptocurrency services to block transactions from Russian users.

Fedorov specifically addressed the Twitter accounts of Tether Limited, the Hong Kong-based firm that issues the USDT stablecoin, and Paolo Ardoino, the company’s CTO. Ardoino also serves as the CTO of the cryptocurrency exchange Bitfinex. Fedorov said, “Today, the whole civilised world has united against Russia to economically punish the bloody invaders,” before asking both companies to “stop all dealings with the Russians!” To bring about peace!

Fedorov has consistently called for sanctions to be imposed on all Russian crypto users on Twitter, including regular citizens and not only sanctioned individuals. Despite widespread worldwide support for Ukraine, these appeals have often been received with negative sentiment and have been mostly ignored by the crypto community.

Kraken and Binance have rejected such demands, putting a stop to any action in the form of government-issued penalties. It will be interesting to see how Bitfinex and Tether respond. The link between the two firms is still unknown, despite the fact that they were discovered to be controlled by the “same small number of people” in an examination conducted by New York State Attorney General Letitia James in February of last year.

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Jeewan Singh
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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