Coinbase Bans 25,000 Russian Crypto Addresses in Latest Sanctions

Coinbase Bans 25,000 Russian Crypto Addresses

US Cryptocurrency exchange Coinbase has blocked access to 25,000 accounts belonging to Russian users who allegedly engaged in illegal actions.

The company notes that the addresses were marked through its investigation and has asked that the US administration help in enforcing the restrictions.

Coinbase CEO, Brian Armstrong, says that the company will comply with the sanctions against the Russian invasion. The firm commits to scrutinizing accounts against those of sanctioned firms and individuals.

Armstrong maintains that targeted oligarchs and companies will not use cryptocurrency technology to circumvent the measures since it is based on an open ledger. 

The executive maintains that the exchange would not impose a blanket ban on Russian users.

Source: Cryptopotato

Leave a Reply

Your email address will not be published.

Related Posts