Ukraine's Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov has asked all major cryptocurrency exchanges to block the addresses of Russian users.

On February 26, Fedorov announced in a February 27 post that anyone who discloses the cryptocurrency accounts of Russian and Belarusian politicians and their associated addresses will be rewarded by the Ukrainian cryptocurrency community and asked all major cryptocurrency exchanges to block the addresses of Russian users.

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Federov also shared.

It is very important not only to freeze addresses associated with Russian and Belarusian politicians, but also to disrupt ordinary users.

A statement was issued.

Soon after, the cryptocurrency community responded to Federov's request. Ukrainian digital asset startup DMarket was asked to ban Russian and Belarusian users from registering on the platform and to suspend the accounts of users previously registered in those regions. Dmarket also reported that it had removed the Russian ruble from its payment options. 20220301-119.jpg.webp

Jesse Powell, founder of cryptocurrency exchange Kraken, explained why Russian users can't freeze their accounts by retweeting Federov's tweets. "I understand your request, but while I have deep respect for the people of Ukraine, Kraken cannot freeze the accounts of Russian users without a legal obligation to do so," Powell said.

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However, Powell said that "Russians should be aware that there will be such a requirement soon," and Powell hinted that Russian users' accounts could be frozen in the future. Powell also shared his post.

If we are going to voluntarily freeze the financial accounts of those living in countries around the world that unjustly attack and incite violence, then the first step is to freeze all U.S. accounts.

By issuing a statement referring to the U.S.

On the other hand, Cryptocurrency, the world's largest cryptocurrency exchange, said in a statement at the request of Ukrainian Deputy Prime Minister Federov that it would not "unilaterally" freeze the accounts of Russian users. A Cryptocurrency official told CNBC.

We do not unilaterally freeze the accounts of millions of innocent users. Cryptocurrencies are designed to provide more financial freedom for people around the world. Deciding to unilaterally ban people’s access would eliminate the very reason cryptocurrencies exist.

A statement was issued.