'Crypto Conflict?' Head Of Binance Will Not Prohibit Russians From Using Exchange

Binance founder Changpeng Zhao told BBC Radio 4’s "Today" that the company is not in the position to sanction and that “we are not against any people.” The comments come after Ukraine's Deputy Prime Minster Mykhailo Fedorov made a plea to big cryptocurrency exchanges to not just prohibit politicians, but also "block addresses of Russian users."

Zhao, also known as "CZ," said that it’s not the crypto exchange’s place “to sanction populations of people.”

"Many normal Russians do not agree with war," CZ said. “We differentiate between the Russian politicians who start wars and the normal people…We don't control the industry.”

CZ said the company is rigorously following “a few hundred individuals that are on the international sanctions list in Russia, mostly politicians."

Binance is one of the largest cryptocurrency exchanges in the world and allows the trade of digital currencies such as bitcoin and Ethereum. The company further explained that "crypto is meant to provide greater financial freedom for people across the globe."

CZ, 44, is the 11th richest person in the world, with an estimated net worth of $96 billion. A spokesperson for Binance said that “CZ intends to give away most of his wealth, even 99% of his wealth, just like other entrepreneurs and founders."