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Binance platform blocks accounts linked to relatives of top Russian officials

Binance platform blocks accounts linked to relatives of top Russian officials

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Answer Binance platform blocks accounts linked to relatives of top Russian officials

Leading digital asset exchange Binance has banned accounts linked to relatives of government officials in Moscow, amid mounting international sanctions over Russia’s invasion of Ukraine.

According to Bloomberg, Binance has banned several accounts linked to relatives of some senior government officials in Russia, and this move comes as sanctions continue to be imposed on Moscow in response to its military attack on Ukraine.

The daughter of Russian Foreign Minister Sergei Lavrov, Polina Kovaleva, and Elizaveta Peskova, the daughter of Kremlin spokesman Dmitry Peskov, have been among the most prominent users who have been denied access to their accounts in the past two months.

Binance also banned Kirill Malofeev, the son of Russian oligarch Konstantin Malofeev, whom Washington has accused of financing pro-Russian separatists in Ukraine.

Read:In Pursuit of Regulatory Discipline…Binance Hires Former IRS Special Agent

The move to close the accounts comes after the platform in April allowed limited services to Russian users to comply with the latest round of sanctions approved by the European Union.

The restrictions apply to Russian citizens, residents and legal entities that have crypto assets worth more than 10,000 euros on the platform.

In early March, Binance CEO said:

“The platform has frozen the accounts of the sanctioned Russian individuals, but to ban all Russians, it would be immoral. At the same time, Binance’s rejection of the sanctions could help Moscow circumvent Western sanctions.”

Binance will continue its efforts to identify other people associated with sanctioned individuals, the CEO emphasized regarding sanctions on the platform.

The leading trading platform is still operating in post-war Russia despite requests from the Ukrainian government to ban Russian users, and it is also one of the few global exchanges offering BTC and USDT trading against the Russian ruble.

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