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Michael Jerlis, the founder of the largest mining pool EMCD, outlined the company’s policy regarding the blocking of accounts by cryptocurrency exchanges.
“The actions of politicians do not justify blocking the accounts of ordinary users,” he said.
And also stated:
“EMCD will not restrict access to the services provided, because this is contrary to the ethics and principles of the blockchain.”
The BTC-Alpha crypto exchange has stopped working with Russian users, the KUNA, CEX IO and Qmall exchanges have also introduced restrictions against Russian residents. Binance stated that they would not block all Russian users.
The head of the Kraken crypto exchange, Jesse Powell, said that the platform does not yet plan to block users from Russia, but until such a requirement comes from the US authorities or other countries.
Earlier, the US authorities called on the largest crypto exchanges to give guarantees that they would not help circumvent anti-Russian sanctions. The Joe Biden administration has approached Binance, FTX, and Coinbase on the matter.
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