If you're running a crypto exchange, you absolutely must stay away from Russia... Doing business in Russia will bring you nothing but trouble...
Both exchanges this guy has ties to that are connected to Russia have been sanctioned: HTX by the UK and EU, and MEXC by the US.
MEXC had already announced that it was leaving the Russian market, so there must have been some warning signs beforehand. But I didn't expect it to get caught out anyway.
Compliance is really important for exchanges these days. In fact, compliance isn't about making users happy—it's about satisfying governments. Exchanges can get sanctioned in the blink of an eye, and once that happens, the consequences are serious.
A large part of Bybit's business comes from Russia. If the US or EU wants to find fault with it, I'm sure they could. I wonder if it's paid enough in protection money; otherwise, it could very well be next.
Both exchanges this guy has ties to that are connected to Russia have been sanctioned: HTX by the UK and EU, and MEXC by the US.
MEXC had already announced that it was leaving the Russian market, so there must have been some warning signs beforehand. But I didn't expect it to get caught out anyway.
Compliance is really important for exchanges these days. In fact, compliance isn't about making users happy—it's about satisfying governments. Exchanges can get sanctioned in the blink of an eye, and once that happens, the consequences are serious.
A large part of Bybit's business comes from Russia. If the US or EU wants to find fault with it, I'm sure they could. I wonder if it's paid enough in protection money; otherwise, it could very well be next.