(Open post for discussion & comment too👍) Following on from a story I did last week in this channel & the newer story first put on banter by @mehulbantefam last night concerning Coinbase & 25,000 users banned, Where are several exchanges now in this and what pressure is still coming from especially the U.S. government?
www.cbsnews.com/news/coinbase-binance-freeze-accounts-russia-ukraine/"In coming weeks" could be much sooner than that and indeed even this week according to Bloomberg news. Pressure is indeed mounting with Coinbase now blocking 25,000 users but then they have a high reliance upon the U.S market.
thedailycheck.net/bitcoin-and-crypto-markets-feeling-the-effects-of-war-in-ukraine/So what about Binance?
www.thetimesoftruth.com/coinbase-binance-chorus-from-freezing-all-russia-linked-crypto-accounts-amid-ukraine-disaster/So they are doing the same as Coinbase right? However, no numbers of accounts can be found. So anywhere between 1 and ....? It seems everyone is talking about Coinbase today as "the anti-crypto-freedom mob" yet Binance seems to be quietly doing it too IMO.
www.cryptured.com/kraken-wont-shut-down-russian-accounts-believes-indiscriminate-bans-are-unfair/Kraken (and indeed the very quiet KU coin) have done nothing so far by the looks of it. However, Powell did say he would "Pivot" if "legally required to do so".
In sum, it is apparent that Coinbase and to some degree Binance with unknown figures are proactively blocking some Russian crypto accounts; It appears that Kraken and KU coin are doing nothing right now?🤔
In my opinion and in conclusion.
The pressure upon exchanges will ramp up in the U.S and other western countries and that the best they can hope for is that it's just "targeted" individuals and not a complete countrywide ban of Russia and Belarus. To me, the latter would be very sad for your average Russian and thus I feel that all exchanges now should block those individuals that are deemed a "threat", "corrupt", "oligarch" especially now given that at least two exchanges are already doing this. The writing is on the wall, and any crypto exchange could be cooperative and proactive in doing this before legislation is put in place and then maybe, repeat maybe, the western governments of the world will not the blanket ban Russia and Belarus because exchanges have shown compromise.
As argued, no ban isn't happening given some exchanges' moves and a complete ban will make many people unhappy including me. Thus here we have a middle path and I feel it's the best we can hope for to keep crypto the financial freedom concept that it should truly be.
Feel free to comment. Don't be shy, we are all here to learn👍
(2 links in comments as to @Mehulbanterfam 25,000 blocked story & my older story 7 days ago)
Cheers, CryptoGlyn.