General

# Belarus-born crypto platform halts operations for Russians in response to invasion of Ukraine

” Belarus-born crypto platform halts operations for Russians in response to invasion of Ukraine “

Crypto trading company Currency.com has announced it halted operations for clients based in Russia following the country’s “violence and disorder” imposed on the people of Ukraine.

In a Tuesday announcement, Currency.com said Russian residents would no longer be able to access its services following the platform’s decision to stop Russia-based clients from opening new accounts. According to Currency.com’s website, the Gibraltar-based crypto trading platform has offices in Kyiv, London, and Vilnius, but was previously licensed and headquartered in Belarus.

“We condemn the Russian aggression in the strongest possible terms,” said Vitalii Kedyk, head of strategy for the platform’s London operations and CEO of Currency.com’s Ukraine arm. “In these circumstances we can no longer continue to serve our clients from Russia.”


Major crypto exchanges have responded to calls on social media to either freeze Russian digital assets or otherwise restrict access for residents amid the country’s military invading Ukraine. A Binance spokesperson told Cointelegraph in February that the exchange would not “unilaterally freeze millions of innocent users’ accounts,” while Kraken CEO Jesse Powell hinted that the only way it would cut off Russian users’ access to crypto would be in response to sanctions.

Related: How crypto became a major source of relief for embattled Ukraine

However, many private businesses including credit card companies Visa and Mastercard have announced following Feb. 24 that they will be scaling down or entirely stopping operations in Russia in response to the war. Ukraine’s government, in contrast, has utilized crypto platforms to solicit donations from around the world, raising more than $60 million as of the time of publication.

If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.

For forums sites go to Forum.BuradaBiliyorum.Com

If you want to read more News articles, you can visit our General category.

Source

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button