In light of the Ukraine crisis, major crypto exchange firms including <a href="https://www.cryptoknowmics.com/news/binance-to-donate-10m-to-support-ukraine-crisis/">Binance</a> and <a href="https://www.cryptoknowmics.com/news/krakens-new-nft-marketplace-could-offer-token-backed-loans/">Kraken</a> have responded to the pleas to freeze Russian users’ crypto addresses. 
<h2>Ukraine’s Plea to Crypto Exchange Firms</h2>
On February 27, <a href="https://www.cryptoknowmics.com/news/ukraine-vice-pm-urges-crypto-exchanges-to-freeze-russian-accounts/">Mykhailo Federov</a> - Vice Prime Minister of Ukraine took to Twitter to urge crypto exchanges to freeze the crypto addresses of Russians. The request came days after both U.S and EU decided to remove Russian banks out of <a href="https://www.cryptoknowmics.com/news/japan-plans-to-build-a-swift-like-blockchain-payment-network/">SWIFT</a> and freeze overseas assets of Russia’s Central Bank.

https://twitter.com/FedorovMykhailo/status/1497922588491792386

Fedorov continued tweeting about firms freezing accounts of Russian and Belarusian users. One such startup, DMarket specializes in <a href="https://www.cryptoknowmics.com/news/ninja-fantasy-trader-announces-its-first-presale-of-the-rarest-nftraders-or-samurais/">NFT</a> and virtual in-game items in <a href="https://www.cryptoknowmics.com/news/metaverse-opening-doors-for-artists/">Metaverse</a> was praised by Fedorov for the same. 

https://twitter.com/FedorovMykhailo/status/1497981053067317251
<h2>Crypto Exchanges Response to Ukraine</h2>
<a href="https://www.cryptoknowmics.com/news/followed-by-powells-statements-precious-metals-crypto-markets-and-stocks-waver/">Jesse Powell</a>, CEO of Kraken stated in response to Ukraine’s plea that although the sentiment is duly respected, they cannot block Russian users. Cryptocurrency exchange Binance also voiced similar opinions. 

Early morning on February 28, Jesse Powell tweeted about declining the request set by Ukraine. However, he stated, 
<blockquote>“Russians should be aware that such a requirement could be imminent.”</blockquote>
https://twitter.com/jespow/status/1498112741684363265

In the same thread, Jesse Powell also mentioned the objective of Kraken. According to Powell, Kraken FX wishes to bridge individual humans out of the legacy financial system and urge them to look forward to the crypto world. 
<blockquote>“Where arbitrary lines on maps no longer matter, where they don't worry about being caught in broad, indiscriminate wealth confiscation."</blockquote>
Although Binance stated that there are no plans of blocking user accounts, they do wish to take action against users blacklisted by the West. Binance also wants to minimize the impact on innocent users. Furthermore, Binance guarantees to comply with sanctions imposed by the international community.

Jesse Powell Declines Ukraine's Request to Freeze Russian Users Crypto Addresses

Binance and Kraken decline Ukraine's Vice Prime Minister, Mykhailo Federov's request to freeze crypto addresses of Russian and Belrusian users.

Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

Jesse Powell Declines Ukraine's Request to Freeze Russian Users Crypto Addresses

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