The American trading platform Coinbase sent messages to Russian users whom it suspects that they may be under sanctions.
In notifications saysthat recipient accounts may be blocked from May 31, 2022. Coinbase invited these customers to withdraw all funds before the specified deadline, or provide documents that can confirm that users are not subject to EU sanctions.
Otherwise, starting June 01, 2022, all funds and incoming payments of users who ignored the Coinbase notification or did not provide sufficient reasons to cancel the blocking may be frozen.
Coinbase General Counsel Paul Grewal, commented new marketplace notifications on your Twitter:
“As a result of recent EU sanctions, Coinbase can no longer provide crypto services to some Russian customers registered in the European divisions of the exchange or located in the EU. If they are subject to the new EU restrictions, we will help them withdraw their funds from Coinbase as legally permitted.”
Grewal added that Coinbase will continue to provide services to Russian users who are not subject to EU sanctions.
Recall that in March, Coinbase blocked 25,000 addresses of users registered in Russia, after the statement of the CEO of the platform on support for sanctions. According to Coinbase’s stated position, the exchange practices an ongoing process of reconciling sanctions lists with the names and nationalities of people opening new accounts.
Source: Bits
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