Coinbase head statement: in what case will the exchange block all Russians?

Brian Armstrong will make a decision on blocking based on the decisions of the US authorities

04.03.2022 - 12:35

473

1 min

What’s new? Brian Armstrong, the co-founder of the Coinbase cryptocurrency exchange, made a statement regarding the situation with the blocking of Russian accounts. On his Twitter, he said that the exchange will follow US law in this regard.

8/ Some ordinary Russians are using crypto as a lifeline now that their currency has collapsed. Many of them likely oppose what their country is doing, and a ban would hurt them, too. That said, if the US government decides to impose a ban, we will of course follow those laws.— Brian Armstrong - barmstrong.eth (@brian_armstrong) March 4, 2022

“Some ordinary Russians are using crypto as a lifeline now that their currency has collapsed. Many of them likely oppose what their country is doing, and a ban would hurt them, too. That said, if the US government decides to impose a ban, we will of course follow those laws.”

What else did Armstrong say? According to the Coinbase co-founder, sanctions are a complex issue. The situation is changing very quickly, but the platform will continue to cooperate with governments and law enforcement agencies. In addition, Armstrong stressed that Coinbase will make additional efforts to ensure that all exchange services are available to the residents of Ukraine.

It should be noted that earlier US Senator Hillary Clinton called on Joe Biden’s administration to put pressure on crypto exchanges to stop transactions with Russian users.

Author: