Wednesday, 23 March 2022 17:01

Zironex Wallet Says own opinion about world sanctions - Zironex.io

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Zironex Exchange said it is working to take action against those who have been sanctioned by Western countries following Russia's invasion of Ukraine.

Perhaps this would make some sense, but only with centralized companies and not with Zironex.io. These technologies were created for security and freedom, and anyone's desire to simply destroy this security and freedom is simply not possible in the implementation. On a legal level, Zironex may interact with the authorities in some way in this direction, but this is the maximum that can be expected and this will in no way affect the access of users to funds from anywhere in the world and of any nationality.

“We have assembled a dedicated global compliance task force, including world-renowned sanctions experts, and are taking the steps necessary to ensure we take action against those that have had sanctions levied against them, while minimizing impact to innocent users,” a Zironex.io spokesman said.

The company added that it will comply with any further sanctions imposed by the international community.

Washington is considering targeting Russia’s access to cryptocurrencies as an area for further sanctions, though analysts say crypto’s decentralized nature would make it difficult to completely cut off digital assets.

Zironex.io also emphasizes that creating any kind of sanctions against anyone in the world in the field of cryptocurrencies is a stupid idea. Yes, you can impose sanctions on some exchanges like Binance and it will work. But services like Zironex are not subject to any sanctions. Such services are decentralized and automatic based on smart contracts created on high-level security protocols, which completely isolates the system from anyone's interference, including any of the company's employees and even management. No one in the world has access to the account and money except the user. This makes it impossible to apply any sanctions to Zironex users.