Several of South Korea’s largest crypto exchanges have allegedly joined the increasing list of global sanctions against Russian President Vladimir Putin’s regime by barring the country’s IP addresses.
Gopax, one of the major exchange platforms in South Korea, was the first to publicly reveal Thursday that it was blocking IP addresses from the country and fully freezing 20 accounts.
Gopax just signed a banking agreement with a local institution under its true name, indicating that it may soon resume crypto-to-fiat trade.
Gopax declared that it was acting “in compliance with” the US Department of the Treasury and the European Union’s sanctions.
Snub From SoKor’s Top Crypto Exchanges
Upbit, South Korea’s largest cryptocurrency exchange in terms of transaction volume, has also declared that it will begin refusing withdrawal requests from Russian IP addresses.
Binance, Coinbase, and Kraken have all stated that they will not make such a move on their own, stating it would be an “ethical” infraction.
Additionally, the three biggest…
