Sanctions: Is Binance angry with Russia? Is there something going on that we don't know about?
Among the crypto exchange platform that imposed sanctions on Russia due to the conflict, Binance is however the one that has been really strict about the whole sanction and you tend to wonder if they had beef with each other before or how are they taking the proper measures, what is really going on? Binance one of the largest crypto exchange platforms made an announcement that they will allow Russian citizens to close or withdraw their assets from their platform but with conditions.
Contradictions?
Barely a week after that announcement, Binance has now announced again that they will be upping their efforts by making the sanctions stricter than before by blocking any account that is suspected to be linked with any government personnel or body of the Russian government because they believed that they make be using it to conceal their wealth or store funds. But the question now is, is the action contradicting the previous one that they told the citizens and companies that they will be able to withdraw or trade as long as it's below 10,000 euros or $10,800.
Their reason was that it didn’t look fair to close down millions of accounts of innocent citizens as that may be their source of income or feeding. There are speculations going about for the new sanctions on the Russian government and the speculation is that Binance were in the same bed with the Russian intelligence and they were providing the private information of data to the Russians but however they bluntly denied it, so this may be the payback or way of saying it is a false report.
Accounts blocked
You might be wondering which government officials or personnel got their accounts blocked, well it will be surprised that the accounts blocked were mainly the sons or daughters of top Russian governments like the son of a Russian oligarch, Konstantin Malofeyev, who had issues with the U.S for supposedly violating a sanction imposed on them, Polina Kovaleva the stepdaughter of Sergei Lavrov who’s Russian Foreign Minister, Elizaveta Peskova daughter to Dmitry Peskov who’s Putin’s spokesman and also Kirill Malofeyev, who’s a Russian gamer and former co-owner of CrowCrowd.
These accounts were blocked because they believed or suspected that the Russian government are using them to siphon wealth.
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