The Coinbase platform has confirmed that it has blocked over 25,000 wallet addresses associated with Russian individuals or entities.
Blocked faces make up about 0.2% of the 11.4 million Coinbase users who make monthly transactions. Paul Grewal, General Counsel of Coinbase, commented on the situation:
Today, Coinbase has blocked over 25,000 addresses associated with Russian individuals or entities that we believe are engaging in illegal activities, many of which we have identified through our own proactive investigations. We have shared them with the government to further support sanctions compliance.
Paul Grewal
Grewal said that Coinbase fully supports the international economic sanctions imposed on Russia because of the situation in Ukraine.
Earlier, the CEO of the largest cryptocurrency exchange Binance said that the company will not block all users from Russia: only one has been blocked so far.
Source: ixbt
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