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America does not want cryptocurrency exchanges to ban all Russian users, despite Ukraine’s request. Rather, they want the exchanges to block sanctioned entities, which is what they have been doing bloomberg.com/news/articles/

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Eric Wall

@ercwl

Mar 1

Ok, so to be clear: 1. Ukraine asks for all Russians to be banned 2. Coinbase, Kraken and Binance sort of grandstand and explain they won’t do that (US hadn’t asked them either) 3. US urge exchanges to follow OFAC sanctions 4. Coinbase, Kraken and Binance were already doing that

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Not sure about the order of this or statements made by other businesses, and I can't speak for OFAC/compliance controls at other exchanges. I think we all know that certain newer exchanges have made their primary value prop/growth strategy the lack of AML/KYC/BSA compliance.

1:02 AM · Mar 2, 2022Twitter Web App

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