Vice Prime Minister of Ukraine, Mykhailo Fedorov, has asked all major crypto exchanges to block addresses of Russian users.

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In a tweet on Sunday, Fedorov explained the reason for his call, saying: “It's crucial to freeze not only the addresses linked to Russian and Belarusian politicians, but also to sabotage ordinary users.”

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According to Reuters, Binance, one of the world's leading cryptocurrency exchanges by trading volume, has no plans to freeze user accounts in Russia. "We are not going to unilaterally freeze millions of innocent users' accounts. Crypto was meant to provide greater financial freedom for people across the globe," the representative said.

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However, Binance’s Charity Foundation is donating $10 million to help the humanitarian crisis in Ukraine as well as launching a fund to provide emergency relief through crypto crowdfunding.

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Kraken CEO Jesse Powell responded to Fedorov’s tweet in a thread, explaining the exchange “cannot freeze the accounts of our Russian clients without a legal requirement to do so.” This stance could change in the future as "Russians should be aware that such a requirement could be imminent."

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