On March 1, the media disseminated information that Ukrainian users of the Binance cryptocurrency exchange were faced with “massive blocking of accounts with their subsequent removal from the system.” A platform representative in a comment to ForkLog denied that all clients in the region have a problem.
“Currently, no separate actions are being taken against users in Ukraine,” he said.
To comply with jurisdiction-specific regulations, Binance assists law enforcement agencies in investigating cryptocurrency-related crimes. This often requires temporarily blocking accounts if there is reason to believe that the account holders are violating the exchange's Terms of Use.
“Law enforcement agencies often have to freeze multiple accounts to determine which ones are or are not involved in their investigation. Unfortunately, this means that these investigations can often temporarily impact innocent users,” a Binance spokesperson explained.
He recalled that responsibility for asset management also lies with users. Therefore, when performing transactions, it is important for them to track both the source of origin and the recipient of funds.
“For our part, we are making every effort to promptly review and verify each specific case, and our teams are actively working with users who are faced with this fact,” the company added
Let us recall that in March 2023, Ukrainian cryptocurrency exchanges announced the temporary suspension of operations through hryvnia bank cards. It later turned out that this was due to combating money laundering and tax evasion in the gambling industry.
