Huobi and KuCoin serve customers of sanctioned Russian banks Politco

Crypto exchanges Huobi and KuCoin continue to provide services to users of sanctioned Russian banks, according to a report from Politico on Feb. 24. The news publication cited a report from Inca Digital to that effect. Inca’s report specifically suggests that clients of sanctioned Russian banks. Huobi and Kucoin reportedly do not directly accept funds from any sanctioned banks. However, Inca Digital CEO Adam Zarazinski asserts that the activities above directly violate international sanctions despite the existence of an apparent “loophole.”. The report also identifies shortcomings in Binance’s policies, as the exchange supposedly provides Russian users with “multiple methods” to purchase cryptocurrency on its exchange and peer-to-peer market. Binance denied those allegations.