Coinbase CEO Brian Armstrong said that they do not intend to ban all Russian users from the platform unless a sanction decision is taken by the US government.
Ukraine’s request to block all Russian users from accessing cryptocurrency exchanges Kraken and Binanceafter CoinbaseThere was also a negative response.
Ukraine Requests Cryptocurrency Exchanges to Block Russian Investors Accounts
Related article: Ukraine Requests Cryptocurrency Exchanges to Block Russian Investors Accounts
CEO Brian Armstrong via Twitter 4 March In a series of posts he made in history, he stated that the company is not considering banning all Russian users from accessing the platform for now, but if a sanction decision is taken by the US government, they will comply with it.
As all law-abiding financial institutions do, CoinbaseStating that Turkey will ban accounts that may belong to persons or institutions that are sanctioned, they will not ban the accounts of all Russians as a precaution. Armstrong;
We do not preemptively ban all Russians from using Coinbase. We believe that everyone deserves access to essential financial services, unless the law says otherwise. After the collapse of the ruble, cryptocurrencies became a livelihood for some ordinary Russian citizens. Many oppose their country’s actions, and such a ban would hurt them too.
made statements.
In addition, it is possible to track money transfers in crypto thanks to open wallets. cash or under Stating that it is much easier compared to the others, it is not a high risk for Russian oligarchs to use crypto to avoid sanctions on the country’s economy. Armstrongsaid that amid the rapidly changing war situation, Coinbase will take further steps if necessary.
If the US government decides to impose a ban, we will of course comply with these laws.
