Should exchanges be involved in politics?

[Shaf]

One of the most notable things about cryptocurrency is that it wants to serve as an avenue for freedom in all spheres it is involved in.

Satoshi made Bitcoin to be a decentralized currency, giving power to ordinary people to vote and do with money as will benefits them. But recently, government have been trying to fight that power and one of their tactics seems to be drawing cryptocurrency exchange platforms into politics.

This means that the interest of the common man may no longer be relevant if exchanges are involved in this. The most attacked platform is Binance and the most recent attack has been due to the war between Ukraine and Russia. With sanctions on Russia, the citizens seemed to have turned to cryptocurrency to help them at least salvage part of their finances.

Cryptocurrency has also been used by Ukrainian to get donations when banks couldn't function. In all Binance has allowed both countries to continue using it's platform and this has gained disapproval from some people.

Now should Binance also join the US, UK, NATO and other countries in sanctioning Russia? What would this mean for the freedom cryptocurrency is meant for is cryptocurrency exchange platforms started getting involved in politics?

 

[Ithedicious]

I don't really think so , and I don't really consider it as anything really important in the sense that it is the personal decision of the binance exchange to decide if they are to engage in politics or not because if it is their own personal decision to do so then generally we do not have anything to do ,if it is in their own decision they might also have the reason why they have decided it to be so .

That is why if you can observed , the United States was just asking that the binance company should limit its operation on Russia and should restrict so many Russians who are using the binance platform.

Here it is not an order but it is just a suggestion by the United States , it is now left for the binance exchange to decide if they are to take part in the politics that is going on using the war of the Ukraine and the Russia into consideration.

Sometimes it is not always the best for you to take part in politics or to take part in one side when things like this is going on because your services and operation might be limited in a country you were standing against during a situation like this.

 

[Lens1000]

I must confess that it is very interesting. It is also important that you should know that cryptocurrency exchange operate in different countries and there is no way they will not get themselves involved in one politics one way or the other. They may not get deeply involved but whenever there is a problem in the country, it may be political or not political, the cryptocurrency exchange operating in such country would deemed it fit to render a helping hand and that is exactly what Binance did to Ukraine. They donated millions of dollars to Ukraine as a relief fund during the war.

Just because binance is on the side of Ukraine that was why Russia raised an alarm to ban the cryptocurrency exchange in its country. The major thing is that binance cannot actually support Russia because most of the countries of the world are against Russia and it is also in the business world that if binance support Russia, it is going to affect it in so many countries, that is the major reason why we will always prefer to involve ourselves in politics for the sake of business. It is normal that cryptocurrency exchanges would be involving itself in the country's politics.