Coinbase Blocks Russian Crypto Wallets

Coinbase announced it has blocked more than 25,000 addresses in Russia that were reportedly linked to illegal activities. 

“Over the past few weeks, governments around the world have imposed a series of sanctions against individuals and territories in response to Russia’s invasion of Ukraine. Sanctions play a vital role in strengthening national security and deterring unwarranted aggression, and Coinbase fully supports these government efforts. <. ..> We are taking measures to block access to subjects under sanctions,” said Coinbase.

Coinbase added that it shared these addresses with US  authorities to “support sanctions enforcement.”    

Coinbase however clarified that the exchange does not prohibit the use of the platform by those un-sanctioned Russian citizens.

According to Coinbase, the Russian government and other sanctioned entities would need virtually unobtainable amounts of digital assets to meaningfully counteract the sanctions against them..

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