To slow down the aggression of the invasion of the Russian government against Ukraine, several countries have introduced sanctions on Russia. The crypto industry has been earning a lot of traction as experts of the crypto space believe that Russia might use a crypto-based transaction to trade. Thereby, it will be easy to bypass the financial sanctions using crypto & blockchain industry support. On March 2, 2022, a cryptocurrency exchange based out of South Korea – Gopax announced its decision to freeze Russian users’ accounts or operating accounts through Russian IP. The report claims that the South Korean crypto exchange corporation banned 20 Russian users’ crypto accounts. Today, a Twitter account – Briefly Crypto tweeted the news of Gopax’s latest decision. S. Korean #Crypto exchange freezes around 20 Russian accounts Sentiment: Positive South Korean cryptocurrency exchange Gopax announced on Wednesday that it has frozen and blocked Russian accounts and… Brief: https://t.co/zju72kUM6zhttps://t.co/K21LF5vaqJ — Briefly Crypto (@BrieflyCrypto) March 3, 2022 Thereby, access to wallets and trading activities are suspended for these users. Gopax officially stated that these actions are categorized under the United States and European Union Sanctions on Russia. Earlier, the Hong Kong-based crypto exchange, Animoca Brands announced to restrict services for Russian users. However, many other crypto exchange corporations claimed that...
