Ukraine minister calls on Tether to bar Russians from using its stablecoin
Ukraine’s minister of digital transformation has asked Tether to stop doing business with Russian citizens in a Twitter post aimed at the stablecoin operator’s high-profile CTO, Paolo Ardoino.
Today, the entire democratic world has united against Russia to punish the bloody invaders economically. I call on @tether_to @paoloardoino to stop any transactions with the Russians! For peace!
— Mykhailo Fedorov (@FedorovMykhailo) March 11, 2022
It’s not clear how Tether would in practice stop Russians from using its stablecoin. Ardoino didn’t immediately respond to a message from The Block seeking comment.
Since Russia’s invasion last month, Ukraine’s government has been ramping up pressure on businesses to cease operations in Russia. Companies from PayPal to Goldman Sachs have taken steps to quit the country, although the response from most crypto-related companies has been more reticent.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Andrew Rummer and Yogita Khatri
