Binance supports UK government in its intention to prevent Russia from using digital assets
Hello dear readers, this time I bring you a very hot topic related to the position that Binance has set in support of the British government in its intention to prevent Russia from using digital assets, a fact that has sparked controversy between those who support and those who are against these unilateral actions.
The truth of the matter is that according to information socialized in the main international news portals, the UK government has lashed out against Russia to prevent it from using Bitcoin in its international trade.
It should be noted that the main cryptocurrency exchanges active in the United Kingdom, including Binance, are now obliged to inform the authorities of any person or company that helps Russia to evade the U.S. and European Union blockade.
The UK Treasury's Financial Sanctions Implementation Office, indicated that assets of natural or legal persons such as bitcoin (BTC), ethereum (ETH), tether (USDT) and Non-Fungible Tokens (NFT) could be frozen if there are suspicions that they are used in Russia.
The truth is that Binance has already blocked some accounts of relatives of Russian politicians, including Polina Kovaleva, the stepdaughter of Foreign Minister Sergei Lavrov, and recently the exchange expressed concern that the Russian government could use digital assets to evade Western sanctions.
I would like to know your appreciation on the true fact that Binance supports the British government in its intention to prevent Russia from using digital assets.
SOURCES CONSULTED
JournalTime. The United Kingdom Lashes Out At Russia To Prevent It From Using Bitcoin In Its International Trade. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Cryptostellar
Hello friend @lupafilotaxia.
These issues are the ironies of life, because of the conflict between Russia and Ukraine, much of that conflict due to the arbitrary decisions of the US, many countries want to sanction Russia, or rather has done so but to no effect, now Binance joins these sanctions, as well as FIFA, leaving them out of the world cup to their footballers, the Olympics and multiple countries, why no one punishes the US for all the disasters it makes in the world? ironies of life.
We've found Crypto in your hashtags, reshared to @crypto.defrag
Hi @lupafilotaxia
This is a problem, because it shows that even Binance with all its weight can give in to pressures from states, and this is bad on one hand, I think it hurts the crypto environment in general.
The idea of.cryptocurrencies is that they can be secure, and a blockade of funds like this is similar to what any bank does.
I understand it's a centralized institution, but still, it's a problem in my eyes.
Hi friend
It is interesting to see how things are unfolding on the crypto scene.
It is hard not to take sides or not criticize the war however it could set the wrong precedence and threaten the decentralized nature of crypto.
However Binance is a centralized exchange and can take a stand of their choice.