Binance Suspends Accounts of Kremlin Officials’ Kin

Binance Suspends Accounts

Cryptocurrency exchange Binance has closed the accounts linked to the relatives of the Kremlin officials as the world pressures Russia to end aggression in Ukraine.

The stepdaughter of Russian Foreign Minister Sergei Lavrov, Polina Kovaleva, and Putin’s daughter Elizaveta Peskova are among the affected.

The son of Konstantin Malofeev, Kirill Malofeev, who has been accused of funding the Russian separatists in Crimea, is among those targeted.

Binance’s global head of sanctions, Chagri Poyraz, says that the company regularly checks for people related to the sanctioned individuals who may be using the platform to evade sanctions.

The announcement follows a similar directive by the exchange blocking Russian accounts transacting more than 10,000 euros from deposits and trading.

The move has earned Binance praise in their efforts to uphold sanction against the warmongering nation. The exchange had earlier been accused of sharing data with Russian regulators, which it denied.

Source: Bloomberg

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