At present, the world media has their eyes and ears glued to the ongoing Russian and Ukrainian military conflict. Cryptocurrencies are said to play an important role in this battle. While the western bloc is implementing heavy financial restrictions on Russia, the crypto experts believe that the country might be able to dodge the financial pressure with digital assets reserves.
Ukraine’s Deputy Prime Minister Asks Crypto Exchanges to Block Russian Accounts
On the other hand, the deputy Prime Minister of Ukraine, Mykhailo Fedorov, currently appealed to the cryptocurrency exchange platforms to freeze the digital wallets that are associated with Russian users. While some exchanges have declined the request, many others like Coinbase and FTX seem to have the plan to comply and cooperate with the Ukrainian government.
The cryptocurrency network has always been praised for its anonymity and complete incognito quality. However, the illusion of decentralization seems to be crumbling at present. Artem Afian is a legislator and cryptocurrency expert hailing from Ukraine. He recently told media that he was able to identify several cryptocurrency addresses linked with the Russian officials.
Afian is the person who played an important role in chartering the crypto regulations for Ukraine. He claimed that at present, only a few digital wallet addresses were traced back to be linked with Russian officials. He expressed optimism that soon, his team will unveil more such addresses. Afian has created a blacklist that he wishes to fill with the digital wallet addresses of the Russian officials, their children, wives, relatives, friends, and colluders.
At one end, the Western bloc is implementing harsh financial restrictions on Russia, and on the other hand, the cryptocurrency donations for Ukraine have increased to $50 million. Prominent cryptocurrency businesses and exchange platforms have announced millions in donations for Ukrainian aid. There are several donation initiatives like NGOs, Government, UkraineDAO, AidforUkraine, and Come Back Alive, among others that are active.
The majority portion of these donations is to help the military of Ukraine and invest in the medical and financial aid of their citizens. The donations were set up by the Ukrainian hackers and volunteers who have been working from behind the scene to play their part in the ongoing conflict with Russia.