The CEO of the largest crypto exchange by volume, Binance, said that it would be unethical for Binance to block all Russian accounts. In an interview with Bloomberg, Changpeng Zhao (CZ) said that the exchange follows sanctions rules very closely, and whoever is targeted by sanctions won't be able to use Binance platforms.
Related: Ukrainian Politician Asked Crypto Platforms To Ban Russian Users
To the question of why not ban all clients from Russia, CZ said that it's not Binance's decision to freeze users' accounts. He brought an example of other major platforms such as Facebook and Google, saying that they didn't block users from Russia as well as they follow the rules by regulators. Binance CEO added that there is a need to separate politicians from other people stressing that there are different views and many people in Russia are against the war. Previously, Binance donated $10 M to Ukrainian humanitarian effort.
CZ mentioned that this is not crypto-specific, saying that the banks and crypto companies follow the same rules. He said that Binance provides a full KYC and people banned won't be able to use Binance. He also said that many restaurants and other businesses are serving Russian citizens and he believes there is nothing wrong with that.