Binance Won’t Block Accounts of Non-sanctioned Russian Users

Changpeng Zhao, CEO of crypto exchange Binance, has said the platform complies with sanctions against Russia, but will not restrict access to people who are not on the sanctions list:

“Fact: Banks (most of them I hope) follow sanction rules. Crypto exchanges (at least Binance) follow sanction rules. Media: Crypto exchanges don’t sanction Russia normal people. Crypto exchanges don’t follow sanction rules.”

The Binance CEO has called it “unethical” to restrict access to the platform to ordinary Russians. According to him, Binance has complied with international requirements by freezing the accounts of people affected by sanctions:

“Binance follows sanctions rules very strictly, whoever is on the sanctions list won’t be able to use our platforms.”

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Binance has later announced users who are customers of sanctioned banks cannot use the cards of these organizations on the exchange.