Two of the world's biggest cryptocurrency exchanges, Coinbase Global Inc and Binance, rejected calls on Friday for a blanket ban on all Russian users
By staying put in Russia despite the invasion of Ukraine, the two exchanges are diverging from mainstream finance in a way some anti-money laundering experts and European regulators say weakens Western attempts to isolate Moscow.Financial sanctions are easier than ever for Russians to evade. Thank Bitcoin"We believe everyone deserves access to basic financial services unless the law says otherwise," Coinbase Chief Executive Officer Brian Armstrong said in a series of tweets on Friday.
Read MoreBoth cryptocurrency exchanges have said they will comply with government sanctions. Major crypto exchanges have been urged to ban their services in Russia to prevent sanctioned entities from parking their assets using cryptocurrencies. The exchanges, however, insist they are well equipped to avoid abuse of their platforms.
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