A court in Russia imposed a fine on US cryptocurrency exchange Coinbase for violating local rules.
According to local news sources, the court in Moscow issued a fine against Coinbase for not localizing the data of citizens residing in Russia.
According to the court decision, Coinbase violated the rules regarding the collection and storage of personal information of citizens in Russia.
While a fine of 1 million rubles was imposed on the company, it was warned that this fine could go up to 6 million.
Mid-last month, Moscow fined Zoom 15 million rubles for failing to localize users’ data in Russia.
Fines were also imposed on Spotify, Apple, WhatsApp, Airbnb, Google, Twitch, Pinterest and other companies for not localizing the data of Russian citizens in Russia.