This is one of those ”never let good crisis go wasted” moments > But many of the world's largest crypto exchanges - including Binance and U.S.-based Kraken and

This is one of those ”never let good crisis go wasted” moments > But many of the world's largest crypto exchanges - including Binance and U.S.-based Kraken and Coinbase - have stopped short of a blanket ban on Russian clients, despite a plea from the Ukrainian government for one. They said they would screen users and block anyone targeted by sanctions. > The standoff illustrates the ideological gulf between the traditional financial sector and the world of cryptocurrencies There is no ideological gulf. There has not been blanked ban on Russian foreign bank accounts or Russian credit and debit card transactions. Why cryptocurrencies would be different? Sanctioned entities, or so called ”designed individuals”, or already being screened on cryptocurrency exchanges as no one is so stupid that take the criminal liability on not doing so. Cryptocurrency is also more traceable compared to shell company games and other games oligarchs might be playing. While there is no doubt criminal use of cryptocurrencies, in practice they cannot be used in government scale or moving large sums of assets undetected. Any rushed regulation is a knee-jerk reaction - politicians and their lobbyist may have their own agendas that are not directly related to evading sanctions.