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Learn about the cryptocurrency platforms that banned the Russians

After the Russian military operation against Ukraine, several cryptocurrency platforms have banned Russian users, suspended their accounts, and frozen their funds.


And the “BTC-Alpha” platform announced the suspension of work with Russian citizens and the ban on their accounts, and all currency pairs were suspended against the ruble.


The “CEX IO” platform also banned the registration of new accounts from Russia, Belarus, and Ukraine, and the platforms pledge to review this policy when things return to normal.


Cryptorg Marketing Director Andrei Podolyan indicated that the BTC Alpha and KUNA platforms belong to Ukrainian owners, noting that the money of Russian users will never be returned to him, as it was confiscated.


As for Binance, it has not published any statement about the work of Russian users on its platform and promised to notify users if there are any changes.


It is noteworthy that the “FTX” platform issued a warning last week, and indicated that all persons subject to the sanctions will have their accounts banned.


Some analysts say that banning and freezing accounts of Russian users in the platforms leads to a loss of reputation, as Russians account for a quarter of purchases and sales of the largest cryptocurrency platforms in the world.


It is worth noting that the Ukrainian Deputy Prime Minister had previously called on cryptocurrency exchanges to block the accounts of Russians and transfer their funds to the Ukrainian authorities, via Twitter.

 

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