South Korean Crypto Exchanges Block Russian-Based IP Addresses (Report)
South Korea’s Sanctions to Russia
Another large platform undertaking such policy is Gopax. It not only barred IP addresses from Russia but also froze 20 accounts registered from Russian users. The other exchanges that halted their services to such customers are Bithumb and Korbit.
Unlike these Korean companies, Binance and Kraken vowed not to restrict servicing Russian-based users. The former emphasized that crypto provides “greater financial freedom,” and such a move could oppose the principles of the sector.
Jesse Powell – Kraken’s CEO – expressed a similar stance, opining that bitcoin is the embodiment of libertarian values. He said his company cannot freeze the accounts of Russian clients without a legal requirement. He also assumed that many of those users are likely to be against Putin’s invasion of Ukraine.
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