Crypto exchange Coinbase says it already blocks 25,000 Russian addresses
Coinbase noted in a blog post its ongoing commitment to counter illegal dealings on its cryptocurrency exchange platform, but stopped short of banning Russian activity completely in the wake of the country’s military invasion of Ukraine.
The comments come after the U.S.-based cryptocurrency exchange, along with Cayman Islands-based Binance and other exchanges, resisted calls to ban all Russian individuals from their exchanges. Binance told CNBC last week that it would block accounts of sanctioned individuals, but would not “unilaterally” freeze all Russian users, as Ukraine’s vice prime minister requested from all major crypto exchanges a day before.
In a blog post Sunday, Coinbase chief legal officer Paul Grewal confirmed the company blocks over 25,000 addresses related to Russian individuals and entities due to illicit activity, noting that it was already blocking those addresses prior to the Ukrainian invasion.
