Binance considers it unethical to block the accounts of Russian users

Changpeng Zhao said that the Binance cryptocurrency exchange he heads does not consider it necessary to block the accounts of Russian users. The heads of two more crypto-exchanges - Kraken and Coinbase - also acted.

In a recent interview, the head of the exchange, better known as "CZ", said that this was unfair. According to him, cryptocurrencies are decentralized and resistant to censorship, and it is unethical to punish all people just because the authorities made this or that decision.



Zhao also recalled that the Binance exchange he leads is guided by international practice on such issues. The platform follows the same rules as banks. And these financial institutions did not impose a complete ban on access to services for all residents of the Russian Federation.

Also, such large companies as Google and Facebook did not block the accounts of Russian users. The ban on access to the services of the crypto exchange applies only to those who are on the list of sanctions. This, in particular, is about clients of Russian banks, on which the world community has imposed sanctions. On the exchange, they will not be able to deposit and withdraw funds from such an account.

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