At the time of writing this post I was in a sea of uncertainty, because I could not interpret the supposed announcement that Binance would make by blocking Russia, a fact that literally leaves Russia without cryptocurrencies or rather cuts off the possibility for Russian entrepreneurs to trade their finances in cryptocurrencies.
The news caught my attention and therefore I started to investigate official sources that would back up what the multiple digital information portals were assuring, however, I did not find any official support to back up such an action that in my opinion would put Binance in a bad position.
It may just be an ill-founded rumor to create instability in the cryptocurrency market, but the truth is that, according to several news portals Binance's decision would have arisen after Russian Prime Minister Mikhail Mishustin considers cryptocurrencies as unacceptable to be considered legal tender on Russian soil.
While these statements by the Russian Prime Minister are counterproductive, the mere fact of Binance blocking any state in my view would be an action that would put the cryptocurrency market on the brink of the abyss as this would trigger a wave of uncertainty and a total alignment to the old classical economic and financial structures subjected to centralization.
I would like to know your appreciation, in the hypothetical scenario that Binance really decided to block Russia by cutting off the possibility of trading cryptocurrencies?
SOURCES CONSULTED
Zawya. You can't use cryptocurrencies to dodge Russia sanctions - Binance CEO. Link
OBSERVATION:
The cover image was designed by the author:
@lupafilotaxia, incorporating image: Zawya