Connect with us

Hi, what are you looking for?

BitWell Rejects Ukrainian Deputy PM’s Call for Exchanges to Ban Russian Users

Tortola, British Virgin Islands–(Newsfile Corp. – March 23, 2022) – BitWell is the world’s leading growth asset trading platform. It announced that the company rejected Ukrainian Deputy PM’s Call for Exchanges to Ban Russian Users.

Ukraine’s Deputy Prime Minister Mykhailo Fedorov tweeted his request for “all major cryptocurrency exchanges to block the addresses of Russian users,” calling for a freeze not only on crypto addresses linked to Russian and Belarusian politicians, but also on those of regular users.

Fedorov also earlier asked for information related to the digital wallets of Russian and Belarusian politicians, saying Ukraine is ready to offer “generous rewards” to anyone who provides information.

Previously, the Ukrainian government has received tens of millions of dollars worth of cryptocurrency donations and has posted on online hacking forums seeking help in preventing cyber attacks.

U.S. cryptocurrency exchange Coinbase Global said it would not impose a blanket ban on transactions involving Russians, but would block the accounts of those targeted by the sanctions, and Coinbase has now blocked more than 25,000 addresses related to Russian individuals or entities.

For its part, DMarket, the cryptocurrency platform used to trade NFT projects related to gaming and the metaverse, has answered Fedorov’s call, saying it has severed all ties with Russia and Belarus and frozen existing accounts of users in those countries.

A previous report by U.S. Treasury officials had warned that cryptocurrencies could “undermine the ability of the United States to impose sanctions” by allowing the targets of sanctions to hold and transfer funds outside of the traditional financial system.

In response to Fedorov’s tweet, BitWell, the world’s leading growth asset trading platform, said, “BitWell upholds the principles of privacy and inviolability of crypto assets and will not allow the legitimate rights of ordinary Russian users to be unjustifiably plundered, and the platform will continue to uphold privacy, fairness and freedom and will not freeze any Russian user assets.”

BitWell calls on other exchanges to safeguard the rights of all users and oppose unjustified and arbitrary sanctions against users. BitWell also emphasizes the growing injustice of arbitrary blocking and looting of user assets in some countries, which is contrary to the vision of BitWell and the existence of cryptocurrencies. With the recent influx of BitWell’s large number of registered users in the Russian region, BitWell has decided to waive transaction fees and provide exclusive customer support services for all users in the Russian region for the duration of the war.

Contact:
BitWell Technology Limited
Luke, Media Director
Operation(at)bitwellex.com
+65 8942 5952
3rd Floor, J&C Building, Road Town, Tortola, British Virgin Islands,VG1110

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117637

Written By

You may also like:

Business

As CIO, my office shapes every employee's experience from the first day.

Business

A phosphate facility operated by Morocco's state-owned OCP near Laayoune in the disputed Western Sahara - Copyright AFP/File Fadel SENNAIsmail BELLAOUALIA global fertiliser supply...

Tech & Science

The conversations with ChatGPT, on Twitter by fascinated users, show a kind of omniscient machine, capable of explaining scientific concepts.

Business

Amid economic gloom fuelled by soaring inflation and fears of China's weaker energy demand, the two global crude benchmarks remain close to their lowest level...