With the Russia-Ukraine conflict going on right now, we can hear new announcements being made every single day. The latest announcement is Ukraine asking Tether to stop business with Russia. We know the news is quite shocking for crypto lovers. Well, what is the news about ‘Ukraine asks Tether to stop business with Russia’? Let’s have a detailed look.
The Russia-Ukraine war has been rising, and we can see the consequences. The conflict led to the crash of crypto markets. The war will lead to a difficult situation not only for Europe but other nations as well. The negative impact of the war between Russia and Ukraine can be seen in the crypto market. It is badly affected due to the war.
Ukraine has targeted cryptocurrency exchanges. It has demanded Tether to cut off trade with Russia. In this article, we will get details why Ukraine asks Tether to stop business with Russia.
Ukraine Asks Tether To Stop Business With Russia
For all those who want to know if it is true that Ukraine asks Tether to stop business with Russia, the answer is yes. Ukraine has asked the major cryptocurrency exchanges to stop doing business with Russians.
Ukraine has sent a letter to the CEO of Tether, JL Van de Velde. He is urged to stop any sort of business with Russia. Ukraine has asked to end any kind of relationship with the Russian Federation. It is also suggested that Tether should block the ability of users to use their platform. Russians should be restricted from using Tether services. They should be stopped from placing any assets through cryptocurrencies.
They have written in the letter that Ukraine believes that Tether also supports the value of responsibility and democracy, just like the IT industry. They have also written that people’s lives are dependent on Tether’s choice. The Vice Prime Minister of Ukraine, Mykhailo Fedorov, stated that it is now no longer a matter of business. It has become a question of peace and life now.
Also Read, Ukraine Media To Sell 10,000 NFT “Keys”
They have been urged to stop trading with them until the Russians stop the aggression. They have also written to restrict the clients from Russia from using any of their services. They should not be able to use cryptocurrencies.
Earlier also Ukraine Vice Prime Minister also announced via his Twitter account about accepting donations through cryptocurrencies. He asked people to stand with Ukraine in these hard times by donating cryptocurrencies. It was announced that cryptocurrency donations in the form of Tether, Bitcoin, and Ethereum are accepted.
If the situation remains the same, it will badly affect the economy. Though Ukraine is receiving cryptocurrency donations, it will not be enough. Let us see how the situation turns out, whether it remains the same or becomes better in the future.
Our article ends on ‘Ukraine asks Tether to stop business with Russia’ here. It is a hard time for Ukraine. The war between Russia and Ukraine is affecting the world in many ways. Let’s see how the current condition in Ukraine changes in the coming days and hope for the best. We will keep you updated with the crypto news. Share our article if you like it. You can visit our website to read other related articles.
Frequently Asked Questions
Q1. Can Russians Use Bitcoin?
A. The Russian Central Bank has called a ban on the use of cryptos. It is not seen welcoming cryptos as the Ukrainian government.
Q2. Has The Cryptocurrency Market Been Crashed?
A. Yes, we can witness the crypto market crashing with the war between Russia and Ukraine.
Q3. Is Ukraine Accepting Crypto Donations?
A. Yes, Ukraine is accepting cryptocurrency donations. It accepts Bitcoin, Tether, and Ethereum.
Q4. Are People Donating Bitcoins To Ukraine?
A. Ukraine is accepting donations in cryptocurrency like Bitcoin. People are donating cryptos to Ukraine.