Bloomberg: Crypto exchanges such as Huobi, KuCoin and Binance allow access to sanctioned Russian banks

According to a report published by Bloomberg citing digital asset data analysis company Inca Digital, Huobi and KuCoin still allow people to use debit cards issued by sanctioned Russian banks such as Sberbank for crypto transactions. method of encryption. Inca Digital CEO Adam Zarazinski said in an interview that this may have violated U.S. and European sanctions policies, and the transactions often involved Tether, which Russians often use to transfer funds abroad. In response, KuCoin CEO Johnny Lyu responded that “KuCoin does not support withdrawals and deposits with cards issued by Russian banks.” Chagri Poyraz, Head of Global Sanctions at Binance, responded that “it is the first major exchange to implement EU cryptocurrency-related sanctions, and there will always be malicious users trying to circumvent the most advanced controls.”