[PRESS RELEASE – Please Read Disclaimer]
MaskEX Crypto Exchange will not ban its wallets connected with Russians or Russian Federation. After long discussions inside the team, MaskEX could not stand idly and decided to clarify its point for the rest of the world.
Considering the current situation around Ukraine, almost all spheres react to the sanctions and restrictions imposed against Russia. From this angle, expectations from the crypto exchanges are not surprising at all, which, of course, is a lot of pressure. And although MaskEX is a relatively new but fast-growing crypto exchange, it already has a large number of users from Russia and Ukraine, as it has employees representing these nations. Even if there were a few dozen users from these countries, it does not count people in numbers.
What people expect from a Crypto Exchange these days: Block all wallets associated with Russia; prohibit the registration of new users who are citizens of Russia; block or freeze the accounts of the wealthy Russians.
First of all, what is happening in Ukraine and other countries retracted in the war is absolutely unacceptable for the MaskEX team. The staff believes in a future where an individual is an ultimate value, and one of the main components leading to this world is Crypto. So it is unbearable that innocent people’s lives are interrupted, homes are destroyed, dreams devastated. The global misery that wars bring is humanity’s greatest sin and shame that won’t be redeemed ever.
Then Crypto Exchanges constantly talk about the possibilities and benefits of cryptocurrency: privacy and anonymity. From this perspective, imposing sanctions on people who were simply born or live in a particular country would be, at the very least, a nomination for Hypocrisy.
То probit all new registrations of Russian citizens. Cryptocurrency lives in a decentralized system with no third party, where the actions and decisions of the individual do not depend on an intermediary like banks. In light of global sanctions, many people who have nothing to do with the outbreak of war carry the consequences of politicians’ decisions.
They faced difficulties and decided to come to Crypto for help. Wasn’t it crypto companies who told people that they could insure themselves with Crypto for cases of emergencies? On this path, the situation itself is a real trial for Crypto. This chapter in the history of Crypto could be called “Bitcoin in the Time of Sanctions”. Cryptocurrencies dropped on February 24 with the start of the war and began to grow in parallel with the first sanctions against Russia, indicating the demand for it. These days, how cryptocurrencies behave will determine when the world will reach Web 3.
On the other hand, saying that Crypto Exchanges are decentralized and stand aside not feeling responsible for customers’ illegal activities means not holding the executioner’s hand. But in what criteria a company should determine that these people do something outlawed in case there are no court decisions or undeniable facts.
This crisis is a trial for Crypto Exchanges and everyone individually: what kind of personality one is, how they will behave as individuals and as a community. If the world does not come to its senses, the bloodshed won’t stop, intolerance won’t be tolerated, humanity may reach WW3 instead of Web 3. Logic and sanity to the whole world.
MaskEX is an online cryptocurrency wallet, and trading platform highly concentrated on users’ privacy and security. It provides smart, intuitive and innovative online trading. Founded in 2021 under the slogan “Your Wallet, Your Way”, the company’s vision is to play an essential role in a free economic system by providing the masses with financial anonymity and autonomy.