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Tell me you don’t have in-house counsel without telling me you don’t have in-house counsel

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Crypto exchanges are refusing calls to freeze Russian accounts. A Binance spokesperson said doing so "would fly in the face of the reason why crypto exists." Kraken's CEO said the move would violate bitcoin's "libertarian values." vice.com/en/article/7kb

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Oh my. I think I'm an idiot but I actually did not have "crypto bros violating sanctions" on my how-will-crypto-die bingo card. I mean. It's obvious that they'd do it. Their response is exactly what is to be expected. I have failed.

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The current sanctions don't require them to freeze account of Russian citizens in general, only certain people and organizations. All they're really saying is that they'll comply with the law but won't do anything above and beyond that to try to support Ukraine.

11:09 PM · Feb 28, 2022Twitter Web App

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The SWIFT ban itself is only for certain Russian banks, not all Russian banks in general. That and the rest of the sanctions have been misrepresented in a lot of headlines. The sanctions could be a whole lot stricter than what they've put in place or announced is happening.

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I've been seeing a lot of the same takes — the UA govt put out a call to halt business (and likely other orgs) but no western exchanges (at least as far as I've seen) are outright flaunting any new sanctions from their country of operation. I mean, beyond their baseline posture…

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