Bitcoin Archive shared: BINANCE: We will not unilaterally freeze millions of innocent users’ accounts.

Community Response:  KRAKEN: We cannot freeze the accounts of our Russian clients without a legal requirement to do so.

COINBASE: A blanket ban would “punish ordinary Russian citizens enduring historic currency destabilization as a result of their government’s aggression against a democratic neighbor.”

Community Reaction:  If criminals use crypto to commit crimes like what Putin is doing right now. I will support a centralized financial system.

Because it’s not in Binance’s financial interest to do so.

Would you want to get frozen because of your president doing wrong?

That is not what I am saying. I am saying Binance doesn’t care about you, they care about money.

Yes, obviously. But many companies don’t resist informal government directives and cave into the slightest pressure.

Fair but I don’t think even slight pressure has been applied. Binance has run some cost-benefit analysis and decided to pretend they care. If governments apply pressure I think they fold and get their PR team to spin it. People need to keep their crypto off of exchanges.

I think they’d barely have a choice if governments apply pressure.

As soon as local laws require exchanges to comply they will all follow and freeze accounts. No KYC exchanges are going to break local laws. They might fight in court but follow regardless to not lose their business license.

A friend of mine working at a German bank today rejected a loan for real estate because the customer has Russian citizenship! This is just disgusting!

So why Iranians are unilaterally banned?

So, Obama/Biden and the EU pulled off Iranian sanctions in2015. For Trump to reinstate them in 2018. And, then two years after Biden takes office, he still has the sanctions in place. Crazy.

But they know exactly Russian Oligarc’s accounts because they are not going and buying 1 BTC. They can freeze them.

I am sorry I am in the crypto space too. But oligarchs have been trying to escape sanctions and they have to seize their accounts and take them away. No one is talking about regular Russian people here. Who is helping the Russian government needs to feel pain?

So, ask them why freeze millions of innocent Iranian users?

I bet if it’s an African country they won’t hesitate.

Did they in Nigeria?  Yes. They were called out a few weeks ago and gave some stupid explanation.

BTC was created to do away with all the centric power oppression, free of geopolitics, and just let the inhabitant of village earth live as one.

Agreed, that’s why coin holders need to get off exchanges like Binance and Coinbase and hold their hardware wallets. You become your own Soon.

So, we’re clapping for Binance now.  Okay.

When someone does something right, you applaud. When does something wrong you boo? Simple.

Yeah, I just did. Not freezing people’s accounts is stunning and brave

They will already as part of AML and KYC and PEP be blocking oligarchs as they need to comply with current regulations before the current situation. This will include FATF blocklists likely that they will also already be looking at child wallets of known accounts.

This will bring further regulations and will damage crypto for the future, would be easier to block withdraws until Russia decides to stop this madness. The revolution needs to come from inside, and normal citizens have a task to do. This is a historical mistake.

Let them freeze it. Not your keys, not your coins! Russian bleats will learn that lesson, too.

Freeze the European and US accounts too then, for the atrocities, they have committees all around the world. Rednecks and European goats will learn that lesson as well.