Nasdaq-listed Coinbase has blocked over 25,000 crypto wallet addresses believed to be associated with Russian individuals and entities engaging in illicit activities.
See related article: US asks crypto exchanges to comply with Russian sanctions: report
Fast facts
- Coinbase, the largest U.S. crypto exchange, said it will not impose a blanket ban on all Russian wallet addresses but is committed to complying with sanctions.
- The U.S. had requested that crypto exchanges comply with Western sanctions to apply further financial pressure on Russia in response to its invasion of Ukraine.
- The world’s largest crypto exchange, Binance, has said that it intends to comply with sanctions imposed on Russia, but like Coinbase, it has not blocked individual users.
See related article: Aid for Ukraine: why a stranded founder turned to DAO and crypto