Russia has recently expanded its sanction list to include 500 more entities, one of which is BJ Kang, Binance U.S. Head of Investigation, who was hired in October last year. The list, curated by Vladimir Putin, also features names of notable Americans such as New York Attorney General Letitia James and former President Barack Obama. These sanctions are thought to be in retaliation for those imposed by the United States amidst the ongoing crisis between Russia and Ukraine.
All 500 named entities on the list now face travel and financial restrictions within Russia. The addition of these names to the list comes roughly a month into Russia’s invasion of Ukraine when several countries began to implement strict sanctions to pressure Russia into seeking peace. Rumors circulated that Binance, a leading cryptocurrency exchange, was not complying with U.S. sanctions on Russia.
Changpeng “CZ” Zhao, the CEO of Binance, clarified that the exchange was indeed complying with the sanctions and had a team working to ensure sanctioned individuals would not use the platform. However, it was discovered a year ago that Binance, along with Seychelles-based exchange OKX and Singapore-based Huobi, had generated their highest traffic from Russia and, as a result, were likely to face enforcement action from U.S. authorities.
The Department of Justice began investigating Binance two weeks ago after suspicions arose that Russians might have evaded sanctions through the exchange. CZ has not yet commented on these claims against Binance, and the extent of Binance’s involvement with Russia remains unclear. With Kang now on Putin’s sanction list, the future of this case is uncertain.
Interestingly, Putin’s sanction list contains the names of Americans who are largely regarded as enemies of Donald Trump, the 45th U.S. President. Letitia James, the New York State Attorney General who has sued Trump for alleged fraud, Joe Scarborough, an American television host and outspoken critic of Trump, and Jack Smith, the Justice Department special counsel, are all on the list.
As the situation unfolds, it is crucial for individuals to stay informed and conduct their market research before making any investments in cryptocurrencies. It is essential to remember that the opinions expressed by some individuals may not reflect the overall market sentiment, and both the author and the publication are not responsible for any personal financial losses.
As the conflict between Russia and Ukraine continues, the world of cryptocurrencies is not exempt from its effects. The placement of key figures on sanction lists highlights the ongoing struggles between countries in regard to finances, technology and politics. For the average investor, keeping an eye on the latest developments and considering opposing viewpoints is crucial for staying informed and making wise decisions in a rapidly shifting landscape.
Source: Coingape
