30 Apr 2025

light mode

How WhiteBIT curbs Russia’s attempts to bypass sanctions — Nosov

In an exclusive interview with the online publication “Focus,” WhiteBIT founder and CEO elaborated on the transparency and openness of the exchange, their investments in crypto education, and Ukraine’s potential to become one of Europe’s leading digital hubs.

Despite the passivity and neutrality of many cryptocurrency exchanges, WhiteBIT has taken a bold pro-Ukraine stance since the beginning of Russia's full-scale invasion. This European exchange, with Ukrainian roots, has publicly declared its unwavering support for Ukraine. It has blocked user registrations from Russia, implemented additional transaction checks, removed trading pairs with the Russian ruble, and suspended deposits and withdrawals in rubles. WhiteBIT is calling on other industry representatives to take decisive action.

We have rendered any operations pertaining to russia technically unfeasible, meticulously adhering to all AML compliance norms to detect and scrutinize the flow of funds in crypto and fiat transactions. As a transparent enterprise, we consistently collaborate with law enforcement and judicial entities.

affirmed Volodymyr

The CEO of WhiteBIT acknowledged the tremendous pressure the company faced following the blockade of the russian market. In his perspective, the exchange's proactive role as a major player in the cryptocurrency industry and a benefactor to Ukraine may prove inconvenient to certain parties. Nevertheless, WhiteBIT remains unwavering in its commitment to fundamental principles of security, transparency, openness, and integrity at every level. These principles effectively deter money laundering and other unlawful activities involving cryptocurrencies. In order to uphold this commitment, the exchange collaborates with platforms that provide cutting-edge tools for blockchain transaction analysis and monitoring, such as Crystal Blockchain and Chainalysis. Additionally, WhiteBIT utilizes services like Visa Cybersource for processing payments and detecting fraudulent transactions. The exchange also works closely with law enforcement agencies within Ukraine to ensure the integrity of its operations.

As Nosov pointed out, it used to be difficult to find reliable information about the cryptocurrency industry. It mainly attracted enthusiasts and people inspired by the success stories of their trader friends. However, nowadays, the interest in cryptocurrencies is growing rapidly, and there are no barriers preventing people from gaining the necessary knowledge. To increase user awareness and debunk myths, WhiteBIT is investing in crypto education.

As part of the ‘Diia. Digital Education' project, WhiteBIT partnered with industry collaborators to introduce a free course on crypto literacy in February. This course empowers individuals to attain a proficient level of understanding in blockchain, sufficient for a prosperous embarkation into this domain. Spanning over 100 hours, it imparts contemporary theoretical knowledge alongside practical application. And this is merely the commencement,

elucidated Volodymyr

Another revolutionary initiative undertaken by WhiteBIT materializes in collaboration with the Kyiv-Mohyla Academy through a Memorandum of Cooperation. This ambitious endeavor entails the inauguration of the foremost certificate-based master's program in “Blockchain Technologies” across Ukraine and Eastern Europe. As part of this endeavor, the university building is undergoing meticulous restoration to enhance the quality of training provided to IT specialists.

Ukraine has demonstrated a fervent embrace of cutting-edge technologies and an equally remarkable pace of their integration in recent years. This landscape represents a competitive arena for us. According to the Global Skill Report 2022, Ukraine has secured a spot among the top ten countries in the world for technological expertise. Even amidst the throes of a full-scale war, the Ukrainian IT market experienced a notable 23% growth last year, demonstrating its unwavering resilience. This pivotal juncture presents an unprecedented opportunity for Ukraine to flourish in this domain, fostering the development and popularization of blockchain technologies among its citizens. Ignoring this potential would be a grave oversight,

declares the WhiteBIT CEO

As an accomplished entrepreneur, visionary, and vanguard of the Web3 industry, Volodymyr Nosov firmly believes that victory will necessitate unorthodox solutions, including digitization and the advancement of IT. This paradigm shift will position Ukraine as a prominent digital hub within the European landscape.

Discover profound insights into the prospects of blockchain in Ukraine, WhiteBIT's collaboration with the Ministry of Foreign Affairs and the Ministry of Digital Transformation, the esteemed honor of receiving the Medal for Assistance to the Armed Forces of Ukraine from General Valerii Zaluzhnyi, Commander-in-Chief of the Armed Forces of Ukraine, and a myriad of other compelling topics in the comprehensive interview on the Focus website.  

On May 20, Volodymyr Nosov will grace the stage as the keynote speaker at the Web3 event, DAYZERO, which serves as a prelude to the prestigious ETH: Kyiv hackathon. The event will be held at Unit.City, with tickets priced at €6.56. Notably, 50% of the ticket proceeds will be directed towards supporting the Ukrainian army.

We previously shared the news about WhiteBIT's first NFT collection launch. It's worth noting that every new user of the platform has the opportunity to participate in a giveaway of The WhiteBIT Bulls art tokens.

The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.

Articles by this author
Roswell Becomes First US City to Establish a Bitcoin Reserve

Roswell Becomes First US City to Establish a Bitcoin Reserve

Roswell, New Mexico, has started a Bitcoin reserve, becoming the first city in the US to officially acknowledge Bitcoin donations.

Anahit Avetisyan
European Neobank Bunq Rolls Out Crypto Trading

European Neobank Bunq Rolls Out Crypto Trading

Bunq, backed by crypto exchange Kraken, has introduced a trading feature for more than 300 cryptocurrencies within its mobile app. The service is now live across several European countries.

Dmytro Psevdonimenko
Mark Carney Wins Canada Election: What’s Next for Crypto?

Mark Carney Wins Canada Election: What’s Next for Crypto?

Liberal leader Mark Carney has won Canada’s snap election, capturing 162 seats (enough to form a minority government). The outcome raises fresh uncertainty about the direction of crypto regulation under his administration.

Dmytro Psevdonimenko
U.S. SEC Postpones Review of Bitwise Dogecoin and Franklin XRP ETFs

U.S. SEC Postpones Review of Bitwise Dogecoin and Franklin XRP ETFs

U.S. regulators have extended the review timeline for Dogecoin and XRP ETFs to June 15, part of a broader post-Bitcoin ETF trend drawing attention to altcoin-based fund proposals.

Vlad Vovk
Crypto Talk on X Today: Bitcoin Core Debate, Base Update, & More

Crypto Talk on X Today: Bitcoin Core Debate, Base Update, & More

A recent proposal to change the Bitcoin network’s data size limit raised heated discussions across the community. Opponents argue that the change would fundamentally alter Bitcoin.

Anahit Avetisyan
Crypto Talk on X Today: KOLs on BTC and Power Outage in Europe

Crypto Talk on X Today: KOLs on BTC and Power Outage in Europe

On April 28, a power outage hit Spain, Portugal, and parts of France. The blackout disrupted the banking system, but investor Daniel Batten says Bitcoin remained invulnerable.

Anahit Avetisyan
Meet Eric Piscini (Hashgraph): A Blockchain Leader with 25+ Years of Innovation

Meet Eric Piscini (Hashgraph): A Blockchain Leader with 25+ Years of Innovation

CEO of Hashgraph. Tech pioneer. Visionary leader. Eric Piscini’s career is a blueprint for success in blockchain and beyond. Let’s take a closer look at his journey.

Daryna Nesterenko
Kaia: What Happens When LINE and Kakao Merge into One Blockchain

Kaia: What Happens When LINE and Kakao Merge into One Blockchain

In just half a year, Kaia has quietly racked up 20 million transactions and drawn in over 400,000 active wallets. Built directly into Asia’s most ubiquitous messaging apps, its reach now extends to nearly 300 million users—a bold blueprint for Web3 adoption.

Vlad Vovk
What Is the Next Bitcoin-Like Investment? Key Factors to Consider

What Is the Next Bitcoin-Like Investment? Key Factors to Consider

Explore the critical factors in evaluating the next breakthrough digital asset. Learn how innovation, decentralization, security, and market trends can help spot a Bitcoin-like opportunity.

The Coinomist
What Is Open Interest in Options? Factors to Consider

What Is Open Interest in Options? Factors to Consider

A comprehensive guide on open interest in options trading, explaining its significance, how it differs from volume, and the key factors to consider when using it for strategy.

The Coinomist
ICO Meaning and Its Role in Blockchain Technology

ICO Meaning and Its Role in Blockchain Technology

ICOs let blockchain projects raise capital by selling tokens. Here’s how they work, their benefits, and the risks investors should be aware of.

The Coinomist
Crypto Whale Activity: What It Means for Your Investment Portfolio

Crypto Whale Activity: What It Means for Your Investment Portfolio

Crypto whales can move markets with a single trade. Learn how their actions affect prices—and how to adjust your investment strategy accordingly.

The Coinomist
What Are Covered Calls? Benefits and Risks

What Are Covered Calls? Benefits and Risks

Covered calls let investors earn income from stocks they already own. Learn how the strategy works, when to use it, and what risks to watch out for.

The Coinomist
Bitcoin Stays Locked at $95K as Institutions Step In and Job Numbers Slump

Bitcoin Stays Locked at $95K as Institutions Step In and Job Numbers Slump

Amid a cooling jobs report and growing interest from major players, Bitcoin holds its ground near the $95K threshold.

Anton Kryshtal
Bitcoin Still Locked Below $95,000 After Multiple Rejection Points

Bitcoin Still Locked Below $95,000 After Multiple Rejection Points

Despite repeated attempts, Bitcoin remains capped just under $95K. As ETF inflows plateau, investors are left scanning the horizon for potential market triggers.

Anton Kryshtal
MORE
Crypto Carnivals: Why Rio de Janeiro Is About More Than Just Samba

Crypto Carnivals: Why Rio de Janeiro Is About More Than Just Samba

Rio de Janeiro is making an ambitious bet on Web3. The carnival capital of Brazil is steadily transforming into a true crypto city, where the blockchain scene is as vibrant as its legendary festivals.

Iaroslava Kramarenko
Eternal Lines: Why Preserve Books on the Blockchain?

Eternal Lines: Why Preserve Books on the Blockchain?

As information becomes increasingly vulnerable to censorship, people are searching for new ways to preserve it reliably. One such solution is blockchain, which allows for the creation of permanent archives.

Iaroslava Kramarenko
MORE