BlocksInform
Crypto exchanges Huobi and KUCOIN continue to provide services to users of sanctioned Russian banks, according to a report from Politico on Feb. 24.
The newspaper quoted Inca Digital's report for this purpose. The Inca report specifically suggests that customers of sanctioned Russian banks may use debit cards issued by banks to carry out transactions on the peer-to-peer cryptocurrency exchange platform.
Huobi and kucoin would not accept directly any sanctioned bank's funds. Nevertheless, Inca Digital CEO. Adam Zarazinski claims that the above activities directly violate international sanctions despite the existence of a perceived "gap."
The report also identifies gaps in Binance's policies, as exchange provides so-called Russian users with "multiple methods" to purchase cryptocurrency on its exchange market and peer-to-peer. This concern exists in spite of the fact that BINANCE blocked fiat deposits originating from some Russian payment cards in March 2022.
Binance denied such claims. He said he fully enforces Kyc regulations and added that he screens communication between users to enforce sanctions.
The Inca Digital report also suggests that bybit makes it possible for users to buy cryptography through its peer-to-peer market and fiat repositories. Bybit didn't speak to that.
A number of exchanges took measures to block the Russian users. Blockchain.com, Crypto.com, and LOCALBITCOINS took action in October. COINBASE blocked Russian users prior to March 2022, while Binance added restrictions in April 2022.
