Coinbase Blocks 25,000 Addresses Related To Russian Individuals And Entities

Coinbase is taking a different approach than the other prominent cryptocurrency exchanges refusing to block access to wallets belonging to Russian customers. According to an official blog post published today, the cryptocurrency exchange Coinbase, located in the United States, has chosen to block access to more than 25,000 addresses associated with Russian persons alleged to be involved in illicit activity. The action comes only a few days after the CEO of cryptocurrency exchange Coinbase said that the company would comply with Russian restrictions. “Today, Coinbase blocks over 25,000 addresses related to Russian individuals or entities we believe to be engaging in illicit activity, many of which we have identified through our own proactive investigations,” said the blog post. According to the top US exchange, in response to the recent monetary sanctions imposed on Russia by governments around the world, the exchange expresses its complete support for these efforts by government authorities and its commitment to fully complying with sanctions in order to achieve its goal of building a safe and responsible financial system. “We earn that trust by working hard to ensure the integrity of all transactions supported by our platform, and a critical part of that goal is our compliance with economic sanctions,” said the blog post. Coinbase claims that over 1,200 new addresses with suspected linkages to sanctioned persons have been det...