{"id":9373,"date":"2022-03-17T20:10:12","date_gmt":"2022-03-17T20:10:12","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/us-lawmakers-discuss-cryptos-role-in-sanctions-national-security-and-humanitarian-aid\/"},"modified":"2022-03-17T20:10:14","modified_gmt":"2022-03-17T20:10:14","slug":"us-lawmakers-discuss-cryptos-role-in-sanctions-national-security-and-humanitarian-aid","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/us-lawmakers-discuss-cryptos-role-in-sanctions-national-security-and-humanitarian-aid\/","title":{"rendered":"US lawmakers discuss crypto\u2019s role in sanctions, national security, and humanitarian aid"},"content":{"rendered":"
Industry experts and lawmakers who spoke at a hearing of the United States Senate Committee on Banking, Housing, and Urban Affairs clashed on how the country should handle digital assets used for illicit purposes.<\/p>\n
Speaking remotely in a Thursday hearing on \u201cUnderstanding the Role of Digital Assets in Illicit Finance\u201d, Michael Chobanian, the founder of Kuna crypto exchange and President of Blockchain Association of Ukraine, called out Binance. He claimed the crypto exchange was \u201cstill working with the ruble\u201d and implied the firm was not in compliance with current sanctions against Russia, which has engaged in a military invasion of Ukraine since Feb. 24.<\/p>\n
In his written testimony, Chobanian said Kuna had stopped \u201call support for the Russian ruble\u201d in an effort to support Ukraine and weaken the economy of the nation currently launching ground and air attacks against it. Binance CEO Changpeng Zhao has previously said the exchange followed all sanction rules, but a spokesperson added at the time the firm would not \u201cunilaterally freeze millions of innocent users\u2019 accounts\u201d in Russia. <\/p>\n
\u201cTo stop Russia in its tracks, and to bring about a more democratic world with personal freedom through cryptocurrency, we appeal to crypto exchanges worldwide, including Binance, to block any interaction with sanctioned individuals until the fall of Putin\u2019s regime and end of aggression against Ukraine,\u201d said the Kuna founder.<\/p>\n