Crypto exchange Coinbase says it will not institute a blanket ban on all Russian accounts
The cryptocurrency exchange will continue to prohibit accounts of sanctions-targeted Russians
• The cryptocurrency exchange will continue to prohibit accounts of sanctions-targeted Russians
• Ukraine receives $20 million in Bitcoin donations targeted for military support
Coinbase Global ,Inc. (COIN ), a cryptocurrency exchange based in the United States, will continue to prohibit accounts and transactions for Russian individuals who are subject to sanctions, but it will not ban accounts of all Russian users.
"At this time, we will not institute a blanket ban on all Coinbase transactions involving Russian addresses," a Coinbase spokesperson told Reuters.
The remarks follow Ukraine's Vice Prime Minister, Mykhailo Fedorov, calling on all major cryptocurrency exchanges to suspend all Russian user accounts on Sunday.
Binance, the world’s biggest crypto exchange, on Monday, said “Crypto is meant to provide greater financial freedom for people across the globe. To unilaterally decide to ban people’s access to their crypto would fly in the face of the reason why crypto exists,”
Jesse Powell, the chief executive of crypto exchange, Kraken, on Monday tweeted that "Our mission is better served by focusing on individual needs above those of any government or political faction. The People's Money is an exit strategy for humans, a weapon for peace, not for war."