The price of bitcoin has dramatically increased due to the civil struggle in Ukraine. People in Ukraine and Russia have used cryptocurrencies to store and move money discreetly.
Some fear sanctioned people are or institutions might perform similarly, possibly weakening the effect of a western crackdown -- and as a result of this freeze, calls for Russian crypto assets have come up.
Coinbase and Binance have clarified that in case of a blanket freeze, they asked for real-time retargeting to make it possible for users whose domains do not differ from the original to evade sanctions.
What Is Coinbase?
Coinbase is a digital asset exchange company. They broker exchanges of Bitcoin and other digital currencies with fiat currencies in around 32 countries.
Coinbase has announced that it will not freeze the accounts of Russian citizens, despite the recent sanctions from the United States government.
What is Binance?
Binance is a cryptocurrency exchange that became very popular in just a few months. It offers a wide range of cryptocurrencies for trading, including Bitcoin, Ethereum, and Litecoin. The platform is user-friendly and has low fees. Binance also offers a very profitable affiliate program.
It appears that Binance and Coinbase will not freeze Russian accounts, despite U.S. sanctions. This is good news for Russian cryptocurrency users, who can now continue to use these platforms without fear of their funds being frozen.