The world’s largest cryptocurrency exchange, Binance has blocked trading accounts linked to relatives of Kremlin officials following last week's announcement that the platform was limiting services in the country.
<h2><b>Binance Blocks Relatives of Kremlin Officials
</b></h2>
According to a report from <a href="https://www.bloombergquint.com/onweb/binance-blocks-accounts-tied-to-relatives-of-kremlin-officials" target="_blank" rel="noopener">Bloomberg</a>, Binance has shut down several accounts linked to relatives of sanctioned senior Kremlin officials.

Among those blocked over the past two months includes Polina Kovaleva, the stepdaughter of Russian Foreign Minister Sergei Lavrov, Elizaveta Peskova, the daughter of President Vladimir Putin’s spokesperson Dmitry Peskov, and Kirill, the son of Konstantin Malofeev, a Russian oligarch who was recently charged by the Justice Department for violating US sanctions.

Binance’s Global Head of Sanctions Chagri Poyraz told Bloomberg that it blocked Putin’s on March 3rd when she tried to use the exchange through a third-party brokerage. Kovaleva’s account was closed on March 24th, the same day the United Kingdom sanctioned her. Malofeez had his accounts blocked this week after being added to the US treasury sanction list a week earlier.
<h2 class="dwcolor"><strong>Limiting Services in Russia Following EU Sanctions</strong></h2>
On April 21, Binance <a href="https://www.cryptoknowmics.com/news/binance-set-to-limit-services-in-russia-after-eu-sanctions" target="_blank" rel="noopener">adopted</a> a set of restrictions for Russian nationals or residents of Russia, limiting trading on accounts holding more than 10,000 euros ($10,800). However, these restrictions won't apply to Russian's living outside of the country, who can verify their address, and those within the country who hold less than €10,000.

Binance CEO Changpeng Zhao previously said that the platform will comply with sanctions but will not “unilaterally freeze millions of innocent users’ accounts” amid Western sanctions against Russia.

Binance Blocks Accounts of Individuals Tied to Russian Government

Binance has blocked accounts linked to relatives of Kremlin officials after last week's announcement that the platform was limiting services in Russia.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Binance Blocks Accounts of Individuals Tied to Russian Government

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