COINBASE: Coinbase says it’s blocking 25,000 Russia-linked crypto addresses!!!

Coinbase has said that it is presently banning 25,000 bitcoin addresses related to Russian persons or businesses, in response to fears that Russia might use cryptocurrencies to avoid sanctions. Chief legal officer Paul Grewal described how the financial exchange is complying with new guidelines set during the continuing invasion of Ukraine in a blog post published yesterday. This involves identifying accounts that are indirectly related to banned users using "advanced blockchain analytics."

The 25,000 accounts were "connected to Russian persons or companies we think are participating in criminal activities," according to Coinbase. It didn't say when they were prohibited or how many of the limitations were tied to the present sanctions. "Sanctions are critical in strengthening national security and preventing unlawful action, and Coinbase fully supports government officials' efforts," Grewal added.