Binance cryptocurrency exchange will take more measures to prevent the Russian government from reducing the impact of sanctions by using crypto.

According to Bloomberg on Thursday, Binanis has closed several accounts linked to relatives of senior Kremlin officials in the past two months since Russia launched a military operation in Ukraine.

Among the victims were Elizaveta Peskov, daughter of Russian President Vladimir Putin’s daughter Dmitry Peskov, and Polina Kovaleva, stepdaughter of Foreign Minister Sergei Lavrov. Binnis said he also detained Cyril Malofev, the son of Maloffev, a Russian oligarch who had previously been charged with violating U.S. sanctions.

“I’m proud to be a member of this team that will bring about real change,” wrote Chagri Poiraz, Binance’s new global sanctions officer, on his LinkedIn page.

Poiraz said Binance intercepted Peskov on March 3, intending to use the exchange through a third-party brokerage firm. He was subsequently approved by the US Treasury Department on March 11 as part of a “punishment for Putin’s war against Ukraine in the Kremlin elites, leaders, oligarchs, and his family.”

Pescova later expressed dissatisfaction with Western sanctions, saying such actions were “completely unfair and baseless.” “It simply came to our notice then. Pescova’s latest Instagram post on March 12 reads “Peace.”

According to Poiraz, Binance will continue to monitor its platform for more people related to convicted individuals using its services.

“The difference is that our adaptive screen operation is‘ proactive ’, with the aim of detecting and preventing financial risk before taking any regulatory or legal action against individuals or entities,” he said.

On April 21, Binanis imposed a series of restrictions on Russian citizens or Russians, with accounts in excess of € 10,000 exceeding $ 10,000. Binance, the CEO of Binance, said in a statement that Binance would comply with the sanctions because of Western sanctions against Russia, but that it would not “unilaterally freeze the accounts of millions of innocent users.”

Related: EU bans Russia from providing ‘high-value crypto asset services’

According to the latest report, in addition to increasing Binanis’ enthusiasm for sentencing, key Russian officials have been linked to family members with cryptocurrencies, such as bitcoin (BTC). This is despite the Russian bank’s hostility to bitcoin and its reluctance to welcome crypto investment.

It is worth noting that some Russian officials, as well as their spouses and children, have completely banned Russia from investing in cryptocurrencies under its own law.

Source: CoinTelegraph

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