The State Financial Monitoring Service of Ukraine issued a report on the results of 2022, detailing the actions it took in relation to the cryptocurrency market.
Together with the Ministry of Digital Transformation and “key crypto experts,” the agency conducted work to identify and fully block the hosting of a number of Russian bitcoin exchanges associated with sanctioned banks.
With the support of cryptocurrency providers, a mechanism for spontaneous blocking of Russian wallets was launched.
The supervising authority also approached the Binance exchange with “concrete proposals to curb Russia’s aggression in the virtual assets market.”
“[After its review] Binance changed its policy and since 20 March 2022 has restricted the ability to perform P2P transactions for a number of Russian banks and payment systems listed in the sanctions list. In addition, other practical measures to block Russian cryptoassets and operations by Russian residents have been implemented,” the report says.
Back in August 2022, the Security Service of Ukraine, with the assistance of Binance, blocked the cryptocurrency wallet of the Russian arms-maker Vladislav Lobayev, who was raising funds for the Russian army.
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