Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Freemind on March 07, 2022, 06:14:05 PM
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It seems that Coinbase has decided, unlike Kraken, to block some users and they have started to block some Russian user accounts. From what we can read in the article I link below, there are 25,000 "specifically detected" accounts. According to Coinbase, the exchange must comply with the sanctions imposed.
You can read the article here: https://blog.coinbase.com/using-crypto-tech-to-promote-sanctions-compliance-8a17b1dabd68
Does anyone know how Coinbase was able to detect those specific accounts?. Could it be an algorithm that had been adding accounts to a possible blacklist for some time?.
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Firstly, the Coinbase exchange is registered and located in the United States, and therefore this exchange cannot ignore the requirements of US regulators and authorities to block the accounts of Russian users, otherwise it itself will be subject to prohibition.
Secondly, after registering on this exchange, in order to be eligible to trade on it, you must go through full verification, including sending a copy of your passport or driver's license. You must also indicate your phone number and confirm its ownership. Therefore, Russian users are very easy to identify.
I am from Ukraine and I see the destruction and genocide of the Ukrainian people caused by Russian soldiers. To date, they have destroyed 202 schools, 34 hospitals, more than 1,500 residential buildings. 38 children were killed, 74 were injured. Therefore, in Russia there are no innocents in this war. They are to blame for allowing such aggression against the Ukrainian people. Therefore, I applaud the actions of Coinbase.
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There must be a reason for the war.
You have to get this straight.
The sanctions led to war.
Or did the war impose sanctions?
I don't think there's a winner.
It's just normal people who suffer.the people
The multinational sanctions will only make Putin increasingly angry.
The consequences... you can't imagine.
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There must be a reason for the war.
You have to get this straight.
The sanctions led to war.
Or did the war impose sanctions?
I don't think there's a winner.
It's just normal people who suffer.the people
The multinational sanctions will only make Putin increasingly angry.
The consequences... you can't imagine.
Russia received its first sanctions back in 2014, when it "friendly" seized the Ukrainian peninsula of Crimea with its military, and then parts of the Donetsk and Lugansk regions. True, Putin initially denied that the armed "little green men" who seized Crimea were Russian troops. But then there is nowhere to go, I had to admit. But with the territory of Donbass, he did not recognize until the current large-scale attack on Ukraine.
On February 24, the Russian Federation attacked Ukraine from three sides (including from the territory of Belarus), throwing eight out of ten of its armies numbering 120,000 people with tanks and other modern weapons on it. Now the number of invaders has been increased to about 150,000, Putin has left only about 6,000 reserves near the borders of Ukraine. After the large-scale invasion of Ukraine, international sanctions have sharply increased and threaten to ruin the Russian economy in the short term.
Speak, international sanctions will anger Putin? He needs to be pissed off enough to make this criminal and murderer shoot himself. But he is a coward and will not do this even if he is now mortally ill.
The Russians, who largely approve of Putin's current actions, really have no idea what such aggression threatens them with. And they are the ones who will pay for it.
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This topic seems too heavy to be discussed because it involves a state sovereignty and I am very sorry to see our brothers in Ukraine get unpleasant treatment by the Russian state.
This war must be stopped immediately because this is a path of future misery and it is of no use at all.
Coinbase is very responsive to the account in question that comes from Russia and why is it banned?
That's because to reduce the number of cryptocurrency transactions in conflicted countries and it's very dangerous if not banned.
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@Fenix, I am not doubting or saying that Coinbase has not done the right thing. What surprises me is that they had these "suspicious" accounts before the invasion of Ukraine began and the possible ways they have been able to obtain them. What they are doing to the Ukrainian people should never have happened, no war is justifiable (anywhere in the world) and much less one in which the victims are civilians who have done nothing wrong.
As my father used to say (he lived through a civil war), "the ambition of some is always the misfortune of many".
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@Fenix, I am not doubting or saying that Coinbase has not done the right thing. What surprises me is that they had these "suspicious" accounts before the invasion of Ukraine began and the possible ways they have been able to obtain them. What they are doing to the Ukrainian people should never have happened, no war is justifiable (anywhere in the world) and much less one in which the victims are civilians who have done nothing wrong.
As my father used to say (he lived through a civil war), "the ambition of some is always the misfortune of many".
It is because of Putin's ambition that both the Ukrainian people and the Russian people are now suffering. It is already obvious that Ukraine cannot be captured by Russia. The losses of Russia in the first two weeks of the war in manpower and equipment are simply colossal. Putin brought the invasion army to 200 thousand people. According to the information of the former Minister of the Ministry of Internal Affairs of Ukraine Avakov, who also refers to the leak of information from the Russian FSB, the aggressor country has already lost 12,635 killed, more than 35,000 wounded, and about 3,000 captured. That is, in the first two weeks, Russia lost more than 50,000 of its invading army.
A normal head of state in Putin's place would have stopped the senseless war, because the further, the more for Russia, taking into account the imposed sanctions, the situation becomes simply catastrophic and many subsequent generations of Russians will have to pay for this war. But Putin rested, because he was not used to backing down. After all, after that, he will lose his reputation both within his country and in the international arena. But he doesn't need to think about himself now. The very existence of the Russian Federation as a single state is already at stake.
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You think it's over.
Maybe it's just the beginning of someone or a team.
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Coinbase is very responsive to the account in question that comes from Russia and why is it banned?
That's because to reduce the number of cryptocurrency transactions in conflicted countries and it's very dangerous if not banned.
I think should not only Russia users If want to reduce the number of crypto transaction in conflicted countries.
Maybe other countries too.
Crypto currency is independent, and I think Russian citizens didn't have fault In this case.
It's just the government problem.
War will have bad effect for other elements, but citizens should not be sacrificed, either Russia and Ukraine citizens.
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Like all things, it is the citizens of a country who end up paying for the acts of their governments. Although it seems to me an unfair measure, I think it is necessary for the Russian population to know what is happening and why these sanctions are being carried out. Maybe the sanction of using some exchanges is not very helpful, but the fact that Russia is no longer part of the SWIFT system is helpful. I think the important thing is to put pressure on all possible industries.
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This approach of banning any Russian on platforms is wrong, not every Russians support the war and Putin. So why would they be punish for Putin's action. If we really mean it then the whole cryptospace should stop the use of telegram. This same telegram owner was sent out of Russia because he could not provide backdoor for the government, a lot of them are victimized like the Ukranians so lets embrace the approach of binance and manage this moment carefully.
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I just pity those Russians because they are suffering because of what their president did, and they have no control absolutely over. Not good
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This approach of banning any Russian on platforms is wrong, not every Russians support the war and Putin. So why would they be punish for Putin's action. If we really mean it then the whole cryptospace should stop the use of telegram. This same telegram owner was sent out of Russia because he could not provide backdoor for the government, a lot of them are victimized like the Ukranians so lets embrace the approach of binance and manage this moment carefully.
Coinbase is not blocking all Russian user accounts, it blocked those 25,000 because they were suspicious. If Coinbase suspects that the owners of those accounts may be laundering money using the services of the exchange, the company has all the legal force to block them since it goes against one of its main rules. If they didn't, the exchange could get into legal trouble with the SEC, and that would be a precautionary cease of operations.
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It seems that the Russian people will really get a bad impact from the effects of their country's invasion of Ukraine, sanctions after sanctions continue to come to the country.
Yesterday I saw many Russian citizens who could not withdraw their money in other countries because many banks blocked Russian citizens, and now the Crypto world has started to sanction them.
If this continues, the situation for Russian citizens will only get worse.
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It seems that the Russian people will really get a bad impact from the effects of their country's invasion of Ukraine, sanctions after sanctions continue to come to the country.
Yesterday I saw many Russian citizens who could not withdraw their money in other countries because many banks blocked Russian citizens, and now the Crypto world has started to sanction them.
If this continues, the situation for Russian citizens will only get worse.
Every war always has effect for their citizens.
I think It's not fair If Russian users has been blocked their accounts.
War is the government consideration, I think citizens should have free access to use this account.
Hopefully this war will end , and everything will be back okay.
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It seems that the Russian people will really get a bad impact from the effects of their country's invasion of Ukraine, sanctions after sanctions continue to come to the country.
Yesterday I saw many Russian citizens who could not withdraw their money in other countries because many banks blocked Russian citizens, and now the Crypto world has started to sanction them.
If this continues, the situation for Russian citizens will only get worse.
Not the entire crypto industry is blocking Russian citizens, there are many exchanges that have not yet acted and will not act on this. The other side of the coin is Jesse Powell, CEO of Kraken, who refused to block Russian citizens on his exchange, and I personally applaud the reasons he gave. Russian citizens have not started the war, the war has been started by Putin.
Jesse Powell's statements are available here: https://fortune.com/2022/03/02/kraken-ceo-response-to-ukraine-request-to-freeze-russian-crypto
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It seems that the Russian people will really get a bad impact from the effects of their country's invasion of Ukraine, sanctions after sanctions continue to come to the country.
Yesterday I saw many Russian citizens who could not withdraw their money in other countries because many banks blocked Russian citizens, and now the Crypto world has started to sanction them.
If this continues, the situation for Russian citizens will only get worse.
Not the entire crypto industry is blocking Russian citizens, there are many exchanges that have not yet acted and will not act on this. The other side of the coin is Jesse Powell, CEO of Kraken, who refused to block Russian citizens on his exchange, and I personally applaud the reasons he gave. Russian citizens have not started the war, the war has been started by Putin.
Jesse Powell's statements are available here: https://fortune.com/2022/03/02/kraken-ceo-response-to-ukraine-request-to-freeze-russian-crypto
It's good news, I agree with you brother.
Citizen didn't have mistake because of Russia be and Ukraine war.
Why they must be blocked. It's not fair, I think.
I get the point As you said Russian citizens have not started the war, the war has been started by Putin.
The Russian government that started the war, Not their citizens.
Be fair to see this case.
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Maybe Several countries will give sanctions for Russian, but I think It's not good if they blocked 25,000 russian address at coinbase.
I agree with opinion above.
Russian citizens didn't have mistake and not started the war, why must be sanctioned.
Agree with CEO of Kraken.
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There are many other cryptocurrency exchanges where people from Russia will be able to trade cryptocurrencies without problems, so it's not such a big problem if several cryptocurrency exchanges like Coinbase will ban Russians, of course for some Russians it will probably be a big problem, but I think a way out of this situation can be found.
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I don't think this will have much of an impact on cryptocurrencies globally.
Basically, Russia does prohibit the circulation of cryptocurrencies in their country, if the exchange blocks accounts with Russian citizens it's something that is not too big.
But I don't think it's fair either way, after all they are citizens of a country that shouldn't be involved in a war that should suffer the consequences like having their wallets blocked from exchange. I prefer peace.
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There are many other cryptocurrency exchanges where people from Russia will be able to trade cryptocurrencies without problems, so it's not such a big problem if several cryptocurrency exchanges like Coinbase will ban Russians, of course for some Russians it will probably be a big problem, but I think a way out of this situation can be found.
In this case, I support the Russian people, they don't have to panic about the blocking carried out by Coinbase. In this world there are lots of Crypto exchanges that can still be used to trade Crypto by Russian citizens, Keep the spirit for Russian citizens.
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There are many other cryptocurrency exchanges where people from Russia will be able to trade cryptocurrencies without problems, so it's not such a big problem if several cryptocurrency exchanges like Coinbase will ban Russians, of course for some Russians it will probably be a big problem, but I think a way out of this situation can be found.
In this case, I support the Russian people, they don't have to panic about the blocking carried out by Coinbase. In this world there are lots of Crypto exchanges that can still be used to trade Crypto by Russian citizens, Keep the spirit for Russian citizens.
agreed, Russian people can use other exchange if being blocked in coinbase.
There are several potential exchange.
I think Citizen didn't be guilty about the war, why they must be sanctioned.
Hopefully other exchange didn't block russian people.
It will have bad effect for crypto market.
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Cryptocurrency for me has always been a bulwark of stability in our unstable times...but the reality is that any geopolitical tension has a painful effect on the entire industry, and ultimately innocent citizens suffer
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It seems that Coinbase has decided, unlike Kraken, to block some users and they have started to block some Russian user accounts. From what we can read in the article I link below, there are 25,000 "specifically detected" accounts. According to Coinbase, the exchange must comply with the sanctions imposed.
You can read the article here: https://blog.coinbase.com/using-crypto-tech-to-promote-sanctions-compliance-8a17b1dabd68
Does anyone know how Coinbase was able to detect those specific accounts?. Could it be an algorithm that had been adding accounts to a possible blacklist for some time?.
I just feel bad for the innocent Russian accounts in Coinbase. They don’t deserve this treatment and I really feel what they’ve felt. But Coinbase had no choice but to comply and follow the order or else they will be suffering big consequences as they are registered in the United States. Putin is to be blamed for this mess.
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I just feel bad for the innocent Russian accounts in Coinbase. They don’t deserve this treatment and I really feel what they’ve felt. But Coinbase had no choice but to comply and follow the order or else they will be suffering big consequences as they are registered in the United States. Putin is to be blamed for this mess.
As stated in the article, those 25,000 accounts are "suspicious" for some reason, not Russian user accounts that have been blocked for no reason, but because Coinbase believes they could be used to launder money. If this is indeed the case, I wonder why Coinbase waited for the invasion to lock down those accounts and start investigating what activities they are doing. I have never believed in coincidences, and maybe those 25,000 accounts are from Russian users with a lot of money.
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if coinbase blocked Russian user that suspicious for money laundering, I think coinbase should announce the reason why they blocked.
Don't just block and no reason.
I think there are many big investors from Russian, If the war become the reason, I don't agree.
But If money laundering is the reason, It's good decision to block the users.
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In the end, this war would eventually bite the common Russian folks who have no hands in the war, while Putin the emperor enjoys himself in his dacha
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It's good news, I agree with you brother.
Citizen didn't have mistake because of Russia be and Ukraine war.
Why they must be blocked. It's not fair, I think.
I get the point As you said Russian citizens have not started the war, the war has been started by Putin.
The Russian government that started the war, Not their citizens.
Be fair to see this case.
Worst of all, the entire Russian government is not in favor of the invasion, so there are some major players inside and outside the Putin government who have quit. This is proof that Putin is increasingly alone and isolated within his own country, and that he does not have 100% support from his government or his oligarchs. Ukraine does not deserve what is happening, but the Russian people have not started the war.
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Coinbase is a leading centralized crypto exchange and so wants to lead by examples. Binance a top exchange too has already declined to cut off Russian accounts. Who blames them
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if coinbase blocked Russian user that suspicious for money laundering, I think coinbase should announce the reason why they blocked.
Don't just block and no reason.
I think there are many big investors from Russian, If the war become the reason, I don't agree.
But If money laundering is the reason, It's good decision to block the users.
That is what I was referring to in my previous post. I don't think it's a mere coincidence that Coinbase found those 25,000 accounts just as Russia invaded Ukraine. Coinbase may have been monitoring these accounts for some time, but did not make any public statements until the beginning of the invasion, which leads me to think that perhaps Coinbase was just waiting for the “right” time to make these statements public.
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if coinbase blocked Russian user that suspicious for money laundering, I think coinbase should announce the reason why they blocked.
Don't just block and no reason.
I think there are many big investors from Russian, If the war become the reason, I don't agree.
But If money laundering is the reason, It's good decision to block the users.
That is what I was referring to in my previous post. I don't think it's a mere coincidence that Coinbase found those 25,000 accounts just as Russia invaded Ukraine. Coinbase may have been monitoring these accounts for some time, but did not make any public statements until the beginning of the invasion, which leads me to think that perhaps Coinbase was just waiting for the “right” time to make these statements public.
Yeah, I agree with two opinion above, I think coinsbase has own consideration and may have been monitoring these accounts, yeah suspicious account.
But maybe coinsbase announced while there is war between Russian and Ukraine.
Hopefully coinbase investigation is true.
Because If wrong, It will have bad effect to crypto market.
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Yeah, I agree with two opinion above, I think coinsbase has own consideration and may have been monitoring these accounts, yeah suspicious account.
But maybe coinsbase announced while there is war between Russian and Ukraine.
Hopefully coinbase investigation is true.
Because If wrong, It will have bad effect to crypto market.
I think coinsbase already did research and have been monitor before block 25,000 Russian address users.
Suspicious account will be reason why this accounts must be blocked.
I personally agree if the suspicious account has blocked.
Because maybe It will be used for illegal activities.
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It seems that Coinbase has decided, unlike Kraken, to block some users and they have started to block some Russian user accounts. From what we can read in the article I link below, there are 25,000 "specifically detected" accounts. According to Coinbase, the exchange must comply with the sanctions imposed.
You can read the article here: https://blog.coinbase.com/using-crypto-tech-to-promote-sanctions-compliance-8a17b1dabd68
Does anyone know how Coinbase was able to detect those specific accounts?. Could it be an algorithm that had been adding accounts to a possible blacklist for some time?.
These centralized exchange and non-custodial wallets failed to achieve the primary purpose of bitcoin. Bitcoin was supposed to be an asset that can not be controlled by any central authority. Many of you must be happy by seeing what coinbase did but just think about what they did the same with your country too? Is that the meaning of financial freedom?
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I support this decision of Coinbase, which will create pressure from users in Russia and have an impact on the Russian authorities. This may cause Russia to soon end this war in Ukraine.
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You know Coinbase implemented KYC so they can detect it the Russian accounts. It is really not safe to store your funds in centralized wallet like coinbase because they really can block it. With this action blocking 25k Russian address I don't know if this is a good move, just helping to stop the war but it seems the market will be affect I guess..
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You know Coinbase implemented KYC so they can detect it the Russian accounts. It is really not safe to store your funds in centralized wallet like coinbase because they really can block it. With this action blocking 25k Russian address I don't know if this is a good move, just helping to stop the war but it seems the market will be affect I guess..
The problem I see is that if those 25,000 accounts were suspicious before the invasion began, they should have been blocked at that time, and not when the Ukraine invasion began. If those accounts were suspicious before the start of the invasion and Coinbase has waited for the "right" time to block them, it doesn't make Coinbase look good, it could be treated as political populism, and that is something that would not benefit Coinbase at all.
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I think clinsbase has own consideration why must block 25,000 Russian account.
They should annouce, because of the war or suspicious account .
I think agree with coinbase and several opinions here, that said those are suspicious account.
Let's wait the announcement of coinbase.
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I think clinsbase has own consideration why must block 25,000 Russian account.
They should annouce, because of the war or suspicious account .
I think agree with coinbase and several opinions here, that said those are suspicious account.
Let's wait the announcement of coinbase.
I am more and more convinced that what Coinbase has done with those 25,000 accounts has been nothing more than a nod to the US government and that they already had all the information a long time ago. What Coinbase has done is to make that information public at the beginning of the Russian invasion of Ukraine, which seems very opportunistic to me. Also, I seem to remember that no other exchange has done the same, and if any other exchange has made the same decision, it has not yet been made public.
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Honestly, I see this case is not fair, If coinsbase blocked 25,000 russian address without the clear reason.
If they said those are suspicious account that coinsbase monitor for along years.
I don't believe about this reason.
I agree with opinions above, maybe this is just an order.
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Honestly, I see this case is not fair, If coinsbase blocked 25,000 russian address without the clear reason.
If they said those are suspicious account that coinsbase monitor for along years.
I don't believe about this reason.
I agree with opinions above, maybe this is just an order.
Easy to formulate seemingly valid reason in order to hide the real intentions. Yeah, unfair but necessary to comply to make things in order. In other hand I do believe coinbase knows the best thing to do to maintain their advocacy and integrity.
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some people think that imposing sanctions against Russia is the right choice... I don't think so, in fact I'm afraid it will make things worse.
is it a coinbase option or is there an intervention?
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if we look to one side or one-sided it seems yes, in this conflict Russia is the one to blame..
and it is very unfortunate that there were many victims in the conflict
but let's look at Russia for a moment and learn or find out the reason for the attack.
Regarding the blocking of Coinbase against Russian accounts, I think this is also a war waged by America against Russia.
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In a war time like this, there is bound to be sanctions from world powerful Nations even US and her allies. There has been similar sanctions untill the US and the Allies looked at cryptocurrency as a possible escape route for the imposed sanctions.
Now to make these sanctions more effective, the US decided to engage the cryptocurrency sectors by complying to the blockages of all Russian crypto related crypto transactions. To this effect, all major exchanges has been complying, and the likes of Coinbase, Binance are in the forefront to current scenario.
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As far as I know, crypto world is decentralized. This means crypto matters shouldn't be affected by the political issue among countries. In my perspective, what Coinbase did isn't the right way. Those Russian assets have nothing to do with this war situation. They cannot be blamed and are suddenly blocked by Coinbase. Remember we are crypto world, we are decentralized. Everyone has the same right here. We have nothing to do with Putin.
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Cryptocurrencies should not be affected because crypto is not restricted between countries and there is no central authority to block transactions, and digital currencies are also resistant to sanctions.
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The reason Russia goes to war is for security.. one of the fundamental reasons is that Russia doesn't feel safe if there is a nuclear country on the border. moreover it's a nato member country.
if only because of this blocking issue could make retract the invasion of russia and end the war in ukraine. I think it's a miracle...
Looking at the problem of blocking 25,000 addresses, if it's internally related, I don't think it's a problem, but if you get involved in this war conflict, it will be a big problem especially in the crypto world.
I think coinbase is quite ready to take a stand on blocking the 25,000 addresses.
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Looking at the problem of blocking 25,000 addresses, if it's internally related, I don't think it's a problem, but if you get involved in this war conflict, it will be a big problem especially in the crypto world.
I think coinbase is quite ready to take a stand on blocking the 25,000 addresses.
War always have bad effect for all elements, especially financial, economic and security.
But I don't think It will effect for crypto world.
Because Russia and Ukraine war just effect at the beginning.
And it's bearish season.
I think It doesn't effect from Russia and Ukraine war.
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The reason Russia goes to war is for security.. one of the fundamental reasons is that Russia doesn't feel safe if there is a nuclear country on the border. moreover it's a nato member country.
if only because of this blocking issue could make retract the invasion of russia and end the war in ukraine. I think it's a miracle...
Looking at the problem of blocking 25,000 addresses, if it's internally related, I don't think it's a problem, but if you get involved in this war conflict, it will be a big problem especially in the crypto world.
I think coinbase is quite ready to take a stand on blocking the 25,000 addresses.
Regarding Russia's sense of danger from a neighboring country if it becomes a member of NATO, this is all lies and Putin's propaganda. Ukraine did not threaten Russia and did not intend to do so. It is also not currently a nuclear state. It voluntarily handed over its third nuclear potential to Russia earlier, along with the missiles that Russia is now firing at it.
Latvia and Estonia have long been members of NATO and share common borders with Russia. And nothing, Russia did not attack them.
Now Finland after the Russian aggression in Ukraine is going to become a member of NATO in June. Russia recently defiantly pulled up S-300 anti-aircraft missile systems to their common border. In response, the Finns drove up to the border on tractors, hinting that a lot of Russian armored vehicles were destroyed and captured by Ukrainians and towed by tractors to their farms. Does Russia have enough strength to fight with everyone if it is already suffering a military defeat in Ukraine?
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maybe as you say, and that's according to news stories from one or several media that you consume.. regardless of the truth and reasons for each person's opinion according to the knowledge of their respective portions...
back to the problem whether the blocking of 25,000 addresses or the sanctions carried out by Coinbase will have a negative impact on Russia?
If it is, maybe Russia will sort it out soon.
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maybe as you say, and that's according to news stories from one or several media that you consume.. regardless of the truth and reasons for each person's opinion according to the knowledge of their respective portions...
back to the problem whether the blocking of 25,000 addresses or the sanctions carried out by Coinbase will have a negative impact on Russia?
If it is, maybe Russia will sort it out soon.
Of course not, blocking those 25,000 accounts is not going to have any impact in Russia. Blocking those accounts will only make a few feel good, and Coinbase will think that it has fulfilled its obligation to combat money laundering, but it is actually foolish. If they have blocked 25,000 accounts, it is because surely there are many more that cannot be blocked due to lack of evidence. I really think that all this has only served to make public opinion think that they always do the right thing, nothing more.
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maybe as you say, and that's according to news stories from one or several media that you consume.. regardless of the truth and reasons for each person's opinion according to the knowledge of their respective portions...
back to the problem whether the blocking of 25,000 addresses or the sanctions carried out by Coinbase will have a negative impact on Russia?
If it is, maybe Russia will sort it out soon.
Of course not, blocking those 25,000 accounts is not going to have any impact in Russia. Blocking those accounts will only make a few feel good, and Coinbase will think that it has fulfilled its obligation to combat money laundering, but it is actually foolish. If they have blocked 25,000 accounts, it is because surely there are many more that cannot be blocked due to lack of evidence. I really think that all this has only served to make public opinion think that they always do the right thing, nothing more.
if the reason for blocking is to limit money laundering accounts I also think the same... that all of that only serves to create opinion so the public think that they are always doing the right thing, nothing more.
maybe they see there is some benefit or advantage to that opinion.. at least get some trust..
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if the reason for blocking is to limit money laundering accounts I also think the same... that all of that only serves to create opinion so the public think that they are always doing the right thing, nothing more.
maybe they see there is some benefit or advantage to that opinion.. at least get some trust..
"Coinbase, the exchange that helped Ukraine fight Putin's tyranny". I think it is a headline that would sell many newspapers and give many visits to digital media, after all I think that is the intention of Coinbase blocking those accounts, because as we already know, that is not going to change anything that is happening. There are many exchanges available at the moment, and some have anti-money laundering laws just because the law requires it, another thing is that they then comply with those laws.
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"Coinbase, the exchange that helped Ukraine fight Putin's tyranny". I think it is a headline that would sell many newspapers and give many visits to digital media, after all I think that is the intention of Coinbase blocking those accounts, because as we already know, that is not going to change anything that is happening. There are many exchanges available at the moment, and some have anti-money laundering laws just because the law requires it, another thing is that they then comply with those laws.
if they want to block coinbase money laundering accounts there is no need to make that opinion, i think coinbase is taking advantage of the atmosphere where some countries are sanctioning russia and coinbase is getting into it.. looking at the pros and cons of the russian invasion of ukraine, coinbase took a risk, maybe some users will switch to another stock exchange..?
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Honestly, I see this case is not fair, If coinsbase blocked 25,000 russian address without the clear reason.
If they said those are suspicious account that coinsbase monitor for along years.
I don't believe about this reason.
I agree with opinions above, maybe this is just an order.
The possible answer will always be debated, but logically if you are really going to do something, don't be close to the situation that happened, such as the Russian invasion of Ukraine, because the motive will certainly be related to this and cannot be separated from the situation.
Yes, I agree, that actions like that are associated with political climates, which are clearly irrelevant and even seem unfair and far-fetched, but this is a decision and everyone has to accept that fact, even though it is definitely unfair.
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if they want to block coinbase money laundering accounts there is no need to make that opinion, i think coinbase is taking advantage of the atmosphere where some countries are sanctioning russia and coinbase is getting into it.. looking at the pros and cons of the russian invasion of ukraine, coinbase took a risk, maybe some users will switch to another stock exchange..?
Russian citizens who have nothing to hide and do things legally do not have to be treated like this. I don't think those 25,000 accounts were laundering money, I think it was a blockade of any user with an IP from Russian ISPs. Fortunately, Coinbase is not the only exchange available, and more DEXes are appearing every day for users to work with. Every time I think about what Coinbase has done, I am reminded of the words of Kraken founder Jesse Powell.
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if they want to block coinbase money laundering accounts there is no need to make that opinion, i think coinbase is taking advantage of the atmosphere where some countries are sanctioning russia and coinbase is getting into it.. looking at the pros and cons of the russian invasion of ukraine, coinbase took a risk, maybe some users will switch to another stock exchange..?
Russian citizens who have nothing to hide and do things legally do not have to be treated like this. I don't think those 25,000 accounts were laundering money, I think it was a blockade of any user with an IP from Russian ISPs. Fortunately, Coinbase is not the only exchange available, and more DEXes are appearing every day for users to work with. Every time I think about what Coinbase has done, I am reminded of the words of Kraken founder Jesse Powell.
All Russian citizens are now guilty of the fact that Russian soldiers staged a genocide in Ukraine: about a third of the civilian infrastructure has already been destroyed, the country is being purposefully destroyed economically, for no reason the invaders are mass shooting women and children. Putin does not do this, it is done by the husbands, brothers and fathers of those "innocents" who live quietly in Russia and support Putin's genocide in Ukraine by 84 percent. Therefore, such an action as blocking 25,000 accounts of Russians on the stock exchange is nothing compared to what Ukrainians are suffering now. The world community is forced to take economic measures so that "innocent people" in Russia wake up from Putin's zombification. There are simply no other ways than to hurt "innocent people" so that they themselves stop the officials they elect and give them power.
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if they want to block coinbase money laundering accounts there is no need to make that opinion, i think coinbase is taking advantage of the atmosphere where some countries are sanctioning russia and coinbase is getting into it.. looking at the pros and cons of the russian invasion of ukraine, coinbase took a risk, maybe some users will switch to another stock exchange..?
Russian citizens who have nothing to hide and do things legally do not have to be treated like this. I don't think those 25,000 accounts were laundering money, I think it was a blockade of any user with an IP from Russian ISPs. Fortunately, Coinbase is not the only exchange available, and more DEXes are appearing every day for users to work with. Every time I think about what Coinbase has done, I am reminded of the words of Kraken founder Jesse Powell.
All Russian citizens are now guilty of the fact that Russian soldiers staged a genocide in Ukraine: about a third of the civilian infrastructure has already been destroyed, the country is being purposefully destroyed economically, for no reason the invaders are mass shooting women and children. Putin does not do this, it is done by the husbands, brothers and fathers of those "innocents" who live quietly in Russia and support Putin's genocide in Ukraine by 84 percent. Therefore, such an action as blocking 25,000 accounts of Russians on the stock exchange is nothing compared to what Ukrainians are suffering now. The world community is forced to take economic measures so that "innocent people" in Russia wake up from Putin's zombification. There are simply no other ways than to hurt "innocent people" so that they themselves stop the officials they elect and give them power.
If you say all Russians I don't think it's correct.. those who are "innocent" are not all of the 25,000 addresses including those of their brothers, fathers or husbands.
So far I have seen that some of the world's people who have been forced to take economic measures have not had a bad impact on the Russian economy.
I think the whole business is left to Volodymyr Zelenskyy.
all of his current attitudes affect the security of the people of ukraine and the world.. if he stays in his current position, it will have an even more bad impact on the ukraine economy, currently to make up for the loss of the russian invasion of ukrainian reaching USD.6,962,090,000.00.
I and everyone uphold peace
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@Alichlas92. Could you be more specific about what views of the President of Ukraine Zelensky negatively affect the security of the people of Ukraine and the world. Why did Zelensky, who made a lot of efforts to repel Russia’s military aggression and ensure the defense security of Ukraine, suddenly begin to negatively influence the security of both Ukraine and the world?
Now Ukraine is inflicting a significant military defeat on Russia, and Zelensky has a certain merit in this. Therefore, as a Ukrainian and a resident of Ukraine, your vague thoughts are completely incomprehensible to me.
In my opinion, one should be indignant at the actions of the political leadership of Russia, which in the center of Europe was unleashed by aggressive military operations against a peaceful neighboring state. To defend yourself against such aggression is absolutely normal and legal.
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I think it is not entirely correct to delve further into the political component of the conflict....many exchanges have already announced sanctions to residents of Russia...although to tell the truth, the people are not directly to blame. Binance also announced sanctions.
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I think it is not entirely correct to delve further into the political component of the conflict....many exchanges have already announced sanctions to residents of Russia...although to tell the truth, the people are not directly to blame. Binance also announced sanctions.
I don't know exactly how many exchanges are doing the same thing, but if I know what the result will be, it's useless. Russian citizens will be able to trade anyway, because (among other things) DEXes exist, for anyone to use. Another thing I've been thinking about for a few days is that this list does not get bigger or smaller over time, which makes me suspect again that this was all planned in advance and that Coinbase has waited for the right moment.
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I think it is not entirely correct to delve further into the political component of the conflict....many exchanges have already announced sanctions to residents of Russia...although to tell the truth, the people are not directly to blame. Binance also announced sanctions.
If COINBASE wasn't the biggest crypto trading company in the United States I don't think they made that decision.
Several other cryptocurrency exchanges have confirmed that they will not block Russian citizens' accounts for more logical reasons.
I believe every Russian citizen until now as Coinbase CEO Brian Armstrong said, that Russian citizens still have access to crypto accounts on Coinbase.
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@Alichlas92. Could you be more specific about what views of the President of Ukraine Zelensky negatively affect the security of the people of Ukraine and the world. Why did Zelensky, who made a lot of efforts to repel Russia’s military aggression and ensure the defense security of Ukraine, suddenly begin to negatively influence the security of both Ukraine and the world?
Now Ukraine is inflicting a significant military defeat on Russia, and Zelensky has a certain merit in this. Therefore, as a Ukrainian and a resident of Ukraine, your vague thoughts are completely incomprehensible to me.
In my opinion, one should be indignant at the actions of the political leadership of Russia, which in the center of Europe was unleashed by aggressive military operations against a peaceful neighboring state. To defend yourself against such aggression is absolutely normal and legal.
everyone may not support the russian invasion of ukraine more so if the consequences of it have a negative impact on civilians... russia and ukraine have their own goals.. out there there are those who support there are also those who give sanctions, some of them give sanctions according to their abilities or their respective ways.. actions like Coinbase are a form of protest, and I think it's reasonable for Coinbase to do so, considering that this is one of the biggest companies in America, isn't America the opposite of Russia?
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I think it is not entirely correct to delve further into the political component of the conflict....many exchanges have already announced sanctions to residents of Russia...although to tell the truth, the people are not directly to blame. Binance also announced sanctions.
If COINBASE wasn't the biggest crypto trading company in the United States I don't think they made that decision.
Several other cryptocurrency exchanges have confirmed that they will not block Russian citizens' accounts for more logical reasons.
I believe every Russian citizen until now as Coinbase CEO Brian Armstrong said, that Russian citizens still have access to crypto accounts on Coinbase.
Yeah, I think the accounts that has been banned just suspicious account.
Russian citizens still have access on coinbase
So, It doesn't matter.
But coinbase is not favourite exchange, such as binance and Kucoin.
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Of course, Russian users will still be able to use Coinbae or the many alternatives available, that will never be a problem. But reading the news from several different media all the details of this news point to Coinbase's actions being a political action, something for the world to understand that they are against what Putin is doing. Coinbase acting for any other purpose than that is a waste of time, there are hundreds of exchanges and there are many ways to oppose Putin without making headlines saying that they have blocked 25,000 Russian accounts.
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It's easy how they detected it. This is through KYC(Know Your Customer). They really do KNOW their customers. They can also detect your host country via IP Addresses, although it can be spoofed, so not very reliable tool
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Yes, totally correct. it's not just coinbase that will freeze the number of money laundering accounts or something.. all the major exchanges that use kyc I think will also do the same thing, blocking a number of these accounts. and we would all agree very much with that action.
I don't understand if the blocking carried out by Coinbase is really related to the conflict..?
how far is the news progress? I don't follow it.
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Yes, totally correct. it's not just coinbase that will freeze the number of money laundering accounts or something.. all the major exchanges that use kyc I think will also do the same thing, blocking a number of these accounts. and we would all agree very much with that action.
I don't understand if the blocking carried out by Coinbase is really related to the conflict..?
how far is the news progress? I don't follow it.
Coinbase breaks the news that it had blocked 25,000 accounts at the same time the US government and many European Union countries said they were going to apply sanctions to Russia. The time gap between the sanctions news and the Coinbase news was very short, and that suggests that this is a politically motivated action by Coinbase. We just have to ask ourselves a very simple question... If Coinbase had those 25,000 accounts on its blacklist, why weren't they blocked earlier?.
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Yes, totally correct. it's not just coinbase that will freeze the number of money laundering accounts or something.. all the major exchanges that use kyc I think will also do the same thing, blocking a number of these accounts. and we would all agree very much with that action.
I don't understand if the blocking carried out by Coinbase is really related to the conflict..?
how far is the news progress? I don't follow it.
Coinbase breaks the news that it had blocked 25,000 accounts at the same time the US government and many European Union countries said they were going to apply sanctions to Russia. The time gap between the sanctions news and the Coinbase news was very short, and that suggests that this is a politically motivated action by Coinbase. We just have to ask ourselves a very simple question... If Coinbase had those 25,000 accounts on its blacklist, why weren't they blocked earlier?.
I think the same as you, and that's my question too. if they want to block a blacklisted account, they have to block it first.
we will see in the future whether coinbase sells well, considering that together with countries that also impose sanctions or the public will choose to leave it.
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I think the same as you, and that's my question too. if they want to block a blacklisted account, they have to block it first.
we will see in the future whether coinbase sells well, considering that together with countries that also impose sanctions or the public will choose to leave it.
I don't think that all this affects Coinbase negatively at all, what's more, I think that in the United States it will even have new users, since Coinabase “cares about money laundering” as it has shown by blocking those 25,000 accounts. We must never forget the political part in this case, since it is the main reason that has moved Coinbase. What could happen from now on is that some Russian citizens will think twice before opening a Coinbase account for fear of being blocked, but I don't think it will have any further consequences.
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@Alichlas92. Could you be more specific about what views of the President of Ukraine Zelensky negatively affect the security of the people of Ukraine and the world. Why did Zelensky, who made a lot of efforts to repel Russia’s military aggression and ensure the defense security of Ukraine, suddenly begin to negatively influence the security of both Ukraine and the world?
Now Ukraine is inflicting a significant military defeat on Russia, and Zelensky has a certain merit in this. Therefore, as a Ukrainian and a resident of Ukraine, your vague thoughts are completely incomprehensible to me.
In my opinion, one should be indignant at the actions of the political leadership of Russia, which in the center of Europe was unleashed by aggressive military operations against a peaceful neighboring state. To defend yourself against such aggression is absolutely normal and legal.
everyone may not support the russian invasion of ukraine more so if the consequences of it have a negative impact on civilians... russia and ukraine have their own goals.. out there there are those who support there are also those who give sanctions, some of them give sanctions according to their abilities or their respective ways.. actions like Coinbase are a form of protest, and I think it's reasonable for Coinbase to do so, considering that this is one of the biggest companies in America, isn't America the opposite of Russia?
First of all, it must be taken into account that the entire civilized world is now uniting around Ukraine not in order to oppose Russia as a state, but in order to oppose Russia as an aggressor country. Russia does not need to behave in the international arena like a bandit, rapist and robber, and then there will be no problems. Each state must understand that one should not attack another state in order to haat foreign territories, this is unacceptable in the 21st century. The aggressor state must understand that it will receive a collective tough rebuff and the entire population of the aggressor will suffer. As Putin recently said: "If you don't like it, be patient, my beauty..." He wanted to rape Ukraine, in any case, he would die soon, but all of Russia would have to endure the consequences of what he had done.
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This is what I'm worried about, crypto is no longer what satoshi wants, there are already limits and some sanctions make someone subject to those sanctions, I mean if a Russian citizen user account is blocked then some users can't trade on that exchange, but they will switch to P2P on Dex.
Actually, I don't want to discuss the issue of war, but has Israel ever been sanctioned for continuing to commit crimes in Palestine, America, which was at war with Iraq. I think politics has entered the crypto space and that will make some users feel aggrieved.
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This is what I'm worried about, crypto is no longer what satoshi wants, there are already limits and some sanctions make someone subject to those sanctions, I mean if a Russian citizen user account is blocked then some users can't trade on that exchange, but they will switch to P2P on Dex.
Actually, I don't want to discuss the issue of war, but has Israel ever been sanctioned for continuing to commit crimes in Palestine, America, which was at war with Iraq. I think politics has entered the crypto space and that will make some users feel aggrieved.
Yeah, I think Russia citizens still can do transaction in other way.
So, It's not big problem if coinbase blocked 25,000 Russia address.
Maybe suspicious account.
I think coinbase team has investigation about it.
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This is what I'm worried about, crypto is no longer what satoshi wants, there are already limits and some sanctions make someone subject to those sanctions, I mean if a Russian citizen user account is blocked then some users can't trade on that exchange, but they will switch to P2P on Dex.
Actually, I don't want to discuss the issue of war, but has Israel ever been sanctioned for continuing to commit crimes in Palestine, America, which was at war with Iraq. I think politics has entered the crypto space and that will make some users feel aggrieved.
The 25,000 accounts that Coinbase blocked were “suspected” of being used for money laundering, and that is against the rules of all exchanges. But that doesn't mean what you said, not all Russian citizens have their Coinbase accounts blocked, most Russian users will be able to use their accounts without problems as long as they are not included in that list and comply with the rules of the exchange. I guess Satoshi thought about things like what's going on in politics now when he started creating Bitcoin, he was aware that not everyone would like it for multiple reasons.
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I think the cryptocurrency sector should not fall under sanctions, because the cryptocurrency has not yet received special recognition around the world, and the blockchain was essentially created in order for there to be complete decentralization, but we see the opposite, so I stick more to dex exchanges.
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Maybe this is the strategy of Russia adversaries who pay Coinbase to block users from Russia, they want Russia to be destroyed and experience the worst. But they were wrong, Russia is a big country, it is not easy to beat Russia by doing this blocking. And the Russian people can still carry out Crypto activities very freely!.
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Great news. This is how we will build a decentralized economy. Centralized wallet service should be banned in crypto world. Why people use centralized wallet service provider by reveling their KYC data when there are other decentralized wallet service better than them! I stop using my coinbase account a long time ago because of this.
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Great news. This is how we will build a decentralized economy. Centralized wallet service should be banned in crypto world. Why people use centralized wallet service provider by reveling their KYC data when there are other decentralized wallet service better than them! I stop using my coinbase account a long time ago because of this.
I agree with you, but we have to think that sometimes people use CEX because they have no other alternative, not all coins/tokens are listed on DEXs, so sometimes there is no choice but to use a CEX to trade. The KYC that exchanges (CEX) do is just another control tool for governments, to know what citizens do with their money, just like banks. Personally, I try not to use CEX, especially considering that new DEXes appear every day.
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I think it is not entirely correct to delve further into the political component of the conflict....many exchanges have already announced sanctions to residents of Russia...although to tell the truth, the people are not directly to blame. Binance also announced sanctions.
If the people of Russia are not to blame for the attack on Ukraine, then who is to blame? In Ukraine, about 200,000 Russians are now fighting and killing Ukrainians. Whose fathers, husbands and children are these? Not the people of Russia? Even if only Putin and his entourage are to be blamed, aren't the people of Russia to blame for allowing Putin's twenty years of limitless rule? Other peoples of other countries are clearly not to blame for this. Only the entire people of Russia is to blame for what is happening now in Ukraine. And look what Russian statements about individual events related to the massacres of civilians in Ukraine and the destruction of their homes and civilian infrastructure. They rejoice in it. Even those who are now silent in Russia and do not condemn this war for fear of being subjected to repression, they are also to blame. You need to understand a simple thing: Putin is not personally killing Ukrainians now, they are being killed by the PEOPLE OF RUSSIA.
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I think It's clear.
Coinbase just block suspicious account.
So It doesn't cause of war or other.
I think coinbase team have consideration for this.
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@Alichlas92. Could you be more specific about what views of the President of Ukraine Zelensky negatively affect the security of the people of Ukraine and the world. Why did Zelensky, who made a lot of efforts to repel Russia’s military aggression and ensure the defense security of Ukraine, suddenly begin to negatively influence the security of both Ukraine and the world?
Now Ukraine is inflicting a significant military defeat on Russia, and Zelensky has a certain merit in this. Therefore, as a Ukrainian and a resident of Ukraine, your vague thoughts are completely incomprehensible to me.
In my opinion, one should be indignant at the actions of the political leadership of Russia, which in the center of Europe was unleashed by aggressive military operations against a peaceful neighboring state. To defend yourself against such aggression is absolutely normal and legal.
everyone may not support the russian invasion of ukraine more so if the consequences of it have a negative impact on civilians... russia and ukraine have their own goals.. out there there are those who support there are also those who give sanctions, some of them give sanctions according to their abilities or their respective ways.. actions like Coinbase are a form of protest, and I think it's reasonable for Coinbase to do so, considering that this is one of the biggest companies in America, isn't America the opposite of Russia?
Sanctions against Russia, as a rule, are targeted. Either in relation to a specific individual or group of individuals, or in relation to certain companies or industries that participate in or contribute to the war. Also, the sanctions are aimed at weakening the Russian economy as a whole in order to limit the ability to finance the war of conquest, and here this will already affect all citizens. There are no other options here. It also takes into account that general sanctions against the state as a whole, which affect all citizens, should stimulate the expression of active protest against the war and force their government to stop aggression. After all, passive observation of how the country's officials commit war crimes in Ukraine is, in fact, complicity in this war. If the citizens who, according to the Constitution of the country, have full power, cannot stop their criminal government, then they are all guilty of this war. The innocent are the inhabitants of Ukraine, who are constantly under rocket fire from the Russian army and lose their loved ones and relatives. The suffering of the people of Russia is nothing compared to the suffering of the people of Ukraine. This must be understood.
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it could come from the coinbase account data that must meet the kyc requirements. This makes more sense, from here they can better know who the owner of this account is and which country they come from. But again, of course, they have a very qualified IT team to be able to detect the ownership of the account.
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If desired, it is easy to do. It is a pity that politics breaks into the cryptocurrency space as well.
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I want to play the Devil's Advocate here, even though I'm not supporting the Russians. I daresay the lost income from the Russian users they blocked impoverished them. But seriously that is the truth. Newer and better centralized exchanges are popping up daily and competition is quite fierce now. Reason Binance is hesitant on blocking Russian users. CZ is smarter than Anderson obviously
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If desired, it is easy to do. It is a pity that politics breaks into the cryptocurrency space as well.
Politics is always inseparable from finance. If someone believes that cryptocurrency can exist and develop on its own, then this is a deep delusion. Money is one form of power. Therefore, the one who has power in the state will not stand aside from cryptocurrency. It is most likely that stock exchanges and exchangers will eventually completely come under the control of states.
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I want to play the Devil's Advocate here, even though I'm not supporting the Russians. I daresay the lost income from the Russian users they blocked impoverished them. But seriously that is the truth. Newer and better centralized exchanges are popping up daily and competition is quite fierce now. Reason Binance is hesitant on blocking Russian users. CZ is smarter than Anderson obviously
what you predict can clearly be true, because we have to admit that the crypto community in Russia is clearly very large and its influence will be felt if someone does something to that community. It's not easy to do something out of the ordinary that involves something that can harm a community, because obviously they will fight back in various ways and it becomes unhealthy and dangerous.
Intervention is clearly wrong and not justified, but embargoing a community clearly doesn't solve the problem, instead it seems like it will create new problems again. You are right in saying that competition continues, if do an embargo, the community will look for other ways to move safely and this will clearly harm them later.
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I want to play the Devil's Advocate here, even though I'm not supporting the Russians. I daresay the lost income from the Russian users they blocked impoverished them. But seriously that is the truth. Newer and better centralized exchanges are popping up daily and competition is quite fierce now. Reason Binance is hesitant on blocking Russian users. CZ is smarter than Anderson obviously
what you predict can clearly be true, because we have to admit that the crypto community in Russia is clearly very large and its influence will be felt if someone does something to that community. It's not easy to do something out of the ordinary that involves something that can harm a community, because obviously they will fight back in various ways and it becomes unhealthy and dangerous.
Intervention is clearly wrong and not justified, but embargoing a community clearly doesn't solve the problem, instead it seems like it will create new problems again. You are right in saying that competition continues, if do an embargo, the community will look for other ways to move safely and this will clearly harm them later.
It's a little strange to see such comments. Russians, it turns out, can unite and defend their interests when it comes to limiting their rights in their personal financial sector. At the same time, they do nothing when their top government officials, whom they elected, stage a military invasion under false pretenses into neighboring Ukraine and massacre their inhabitants and destroy civilian infrastructure. Similar restrictions, which occurred on the Coinbase exchange, are designed to stimulate the citizens of Russia to influence their officials, including Putin, who, from unlimited power, imagines himself to be an emperor or tsar. It is precisely such sanctions that are designed to remind the Russians that they are also responsible for what is happening in their country.
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It seems that Coinbase has decided, unlike Kraken, to block some users and they have started to block some Russian user accounts. From what we can read in the article I link below, there are 25,000 "specifically detected" accounts. According to Coinbase, the exchange must comply with the sanctions imposed.
You can read the article here: https://blog.coinbase.com/using-crypto-tech-to-promote-sanctions-compliance-8a17b1dabd68
Does anyone know how Coinbase was able to detect those specific accounts?. Could it be an algorithm that had been adding accounts to a possible blacklist for some time?.
Every exchange have own consideration to block suspicious account.
Many countries refuse Russian expansion, but russian citizens didn't have mistake for this war.
Why must be block their account ?
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I'm gonna say if it's a good decision from coinbase to suspend 25,000 Russian accounts because of what their government is doing in Ukraine account or not, the whole point is some people are going to lose getting access to their assets, but surely there can be some normal people who do not related to their governments and this a bad point of holding your assets on exchanges and especially the centralized exchanges no matter if it's the most famous and of the oldest exchanges in the world here is still a risk of losing all the assets if you are using the exchanges to hold your bitcoins and other cryptocurrencies there, however, if they decided to suspend the account of people who are related to their government this is a very good decision to suspend their accounts.
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This is something sad for Russian citizens who use platforms like Coinbase, I know what Russia is doing may not be justified by other countries but blocking Russian people's accounts that have nothing to do with this situation is also very pity.
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I don't understand why this is so disturbing to many, there are other equally attractive trading platforms.
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This is something sad for Russian citizens who use platforms like Coinbase, I know what Russia is doing may not be justified by other countries but blocking Russian people's accounts that have nothing to do with this situation is also very pity.
but indeed it is the right of management who can determine that, even though the impression of the role of third parties is clear with the prohibition. but at this time it is not a very crucial problem apart from indeed all compactly doing the same thing, but there are still other roles that can do and at this time all are competing to find that opportunity. so there is no excessive worry in this kind of situation and it will be easily resolved in the best possible way.
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It is unclear why this happens, consider all exchanges where Russians are registered, I think this is discrimination against a person. Exchanges have the right to do anything, block anything.
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It is unclear why this happens, consider all exchanges where Russians are registered, I think this is discrimination against a person. Exchanges have the right to do anything, block anything.
The current sanctions on Russians are being imposed to force this nation to stop killing Ukrainians and destroying their civilian infrastructure. When russians kill, rape and rob in Ukraine, you can't see what they think about general human rights. Meanwhile, the direct genocide of Ukrainians continues by the Russians every day, so the sanctions need to be further strengthened. It is necessary to confiscate any property of Russians outside their country and transfer it to Ukraine as compensation for the damage caused to this country. For the pleasure of killing, plundering and destroying, it is necessary that the Russians pay in full and that they pass on for many generations that this cannot be done. Otherwise, our planet, without observing the rules of peaceful coexistence, will plunge into chaos, wars and devastation.
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Coinbase is a USA-based exchange so it has to follow the rules of the U.S.A. It's quite harsh for the Russian users their Ac has been blocked even though they have no fault they are also like human beings who are facing the consequences of the war that is ongoing between Ukraine and Russia even though I have full sympathy for Ukrainians. I personally feel we should not blame the common man of Russia these are all political matters and the common man has no role in it So the common man should not suffer. If someone passes the KYC in an illegal way then users can be tracked by IP.
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There is nothing wrong with this, you just need to change the IP address of the browser and we are trading cryptocurrencies on the exchange again. For what purpose America prohibits Russia from visiting some sites is unclear.
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I don't think this blocking issue will have a bad impact on Russia. America-based Coinbase certainly follows the policy there. I saw the US and Russia fighting. everything else is just a tool.
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It is unclear why this happens, consider all exchanges where Russians are registered, I think this is discrimination against a person. Exchanges have the right to do anything, block anything.
Since February, the Russian army has been attacking Ukraine from three sides, including from Belorussia, with the forces of its eight armies numbering over 200,000 people. After serious defeats in Ukraine, the Russians began to massively destroy the pro-Ukrainian civilian population and deliberately destroy civilian infrastructure. Therefore, in Ukraine, the Russians are carrying out not only discrimination, but genocide of the Ukrainian people. Civilized states, of course, must respond to such atrocities. Blocking the accounts of Russians on cryptocurrency exchanges that are highly active is one of the methods to make Russians change their minds and not pursue an aggressive policy towards neighboring states.
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The European Union approved the 8th package of sanctions against the Russian Federation, banning citizens of the aggressor country from owning cryptocurrency wallets in the eurozone. Both citizens and residents of the Russian Federation will no longer be able to create personal accounts, as well as save digital assets in the European Union, regardless of how much their deposit is.
The new blocking measures will prevent Russians from using cryptocurrency wallets on the largest exchanges (Binance, Coinbase, etc.). By the way, it was the purchase of cryptocurrencies that has recently been one of the most popular ways to withdraw currency abroad.
Given the new restrictions, European companies will be prohibited from opening cryptocurrency accounts and cryptocurrency wallets for Russian citizens, as well as providing cryptocurrency storage services for Russians. In fact, we are talking about a complete ban on crypto-service operators registered in the EU from cooperating with residents of the aggressor country.
The tightening of European sanctions against the Russian Federation came after the fake "referendums" held by the Russian invaders in the Lugansk, Donetsk, as well as Kherson and Zaporozhye regions of Ukraine.
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Yes, today information was announced on television that the Localbitcoins cryptocurrency exchange has stopped servicing the wallets of Russians. Apparently, this is due to the eighth package of EU sanctions against Russia. It can be assumed that other cryptocurrency exchanges, especially European ones, will follow this example.
There is no doubt that such measures are necessary. The Russians not only supported the military invasion of Ukraine by more than 70 percent, but also call in recent days for more shelling of peaceful cities in Ukraine and killing Ukrainians. Such a position should not only be condemned, but all measures should be taken to make supporting the war expensive for the people of Russia.
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25,000 users is a very big number, Oh My God!
If we assume 1 user has 0.1 Bitcoin only then how many Bitcoins are locked by Coinbase.
I did not pay attention to this news because I am sure that this was the result of the Russian invasion of Ukraine which had an impact on all sectors.
Don't be a user in cryptocurrency, in terms of real business, now Russia is also blocked by everyone and this is really very heartbreaking due to the rulers who are very extremist.
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It seems that Coinbase has decided, unlike Kraken, to block some users and they have started to block some Russian user accounts. From what we can read in the article I link below, there are 25,000 "specifically detected" accounts. According to Coinbase, the exchange must comply with the sanctions imposed.
You can read the article here: https://blog.coinbase.com/using-crypto-tech-to-promote-sanctions-compliance-8a17b1dabd68
Does anyone know how Coinbase was able to detect those specific accounts?. Could it be an algorithm that had been adding accounts to a possible blacklist for some time?.
It sounds not fair, if coinbase blocked 25K Russian address, But I agree if the suspicious account.
at the war condition, I think everyone will suffer.
Economic go down and we will see the big recession.
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I don't think 25K accounts were blocked because of suspicion, it's just that sanctions probably affected Russia. Most exchanges adhere to this and also block, and what will happen next.
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Crypto sites around the world turn on a “red light” for Russians after the European Union approved sanctions on October 6 that prohibit the opening and use of crypto wallets for users from the Russian Federation, regardless of the amount on the account.
To date, four crypto exchanges have already refused to cooperate with the Russians, writes The Moscow Times. The first to react to the EU decision was the Canadian crypto platform NFT Dapper Labs, which on the same day, October 6, suspended work with clients from Russia.
The next day, the Cryptopay platform took a similar step, and a few days later, the Finnish crypto exchange Localbitcoins, which is popular among Russians, urged customers from the Russian Federation to withdraw their bitcoins in one transfer, otherwise access to wallets would be lost.
The Blockchain.com project also intends to block the wallets of Russian users, which advised the Russians to withdraw digital assets as soon as possible, since their accounts are subject to closure from October 28.
According to a recent poll, 78 percent of Russians supported the formal accession to the Russian Federation of four regions of Ukraine, on whose territory hostilities with Russian occupiers continue. So don't say that Russian citizens are innocent of killing Ukrainians.
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Crypto sites around the world turn on a “red light” for Russians after the European Union approved sanctions on October 6 that prohibit the opening and use of crypto wallets for users from the Russian Federation, regardless of the amount on the account.
To date, four crypto exchanges have already refused to cooperate with the Russians, writes The Moscow Times. The first to react to the EU decision was the Canadian crypto platform NFT Dapper Labs, which on the same day, October 6, suspended work with clients from Russia.
The next day, the Cryptopay platform took a similar step, and a few days later, the Finnish crypto exchange Localbitcoins, which is popular among Russians, urged customers from the Russian Federation to withdraw their bitcoins in one transfer, otherwise access to wallets would be lost.
The Blockchain.com project also intends to block the wallets of Russian users, which advised the Russians to withdraw digital assets as soon as possible, since their accounts are subject to closure from October 28.
According to a recent poll, 78 percent of Russians supported the formal accession to the Russian Federation of four regions of Ukraine, on whose territory hostilities with Russian occupiers continue. So don't say that Russian citizens are innocent of killing Ukrainians.
Russians also "agree" as with the presidential election. In Russia, no one has been considering the opinion of Russians for a long time, all these percentages are drawn without their participation, while the overwhelming majority are against fighting!
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It sounds not fair, if coinbase blocked 25K Russian address, But I agree if the suspicious account.
at the war condition, I think everyone will suffer.
Economic go down and we will see the big recession.
It was not fair for Russia to invade Ukraine under the cover of military exercises near the borders of Ukraine. It is dishonest now to fire cruise missiles on cities and other settlements in Ukraine and deliberately hit on the energy structure so that civilians are left without electricity, heat and light in winter. It is not fair for the citizens of Russia to rejoice when many cities of Ukraine, under Russian shelling from all types of weapons, turn into ruins, burying women and children under the rubble. It is dishonest to support 70 percent of Russian citizens for the genocide of Ukrainians, which was arranged by the Russian government.
Only for one day of shelling Ukraine with cruise missiles, Russia spends from 400 to 700 million dollars. Compared to the numbers and amounts of blocking Russian accounts by the exchange, this is practically nothing at all. Russians should generally be treated like mad dogs. But they will have to pay the price soon and will pay for it for many generations.
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Of course, these are only the numbers that they made themselves, all this is done so that everyone can see that nothing depends on the Russians. Only now they do it by a group of countries that help them to do this.
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Of course, these are only the numbers that they made themselves, all this is done so that everyone can see that nothing depends on the Russians. Only now they do it by a group of countries that help them to do this.
In my country, Coinbase is not in demand because access is denied. I live in Kazakhstan, near Russia. I advise you not to use this site, as it is not very interesting. Soon, if this continues, then I am waiting for Coinbase to go bankrupt, be careful. Don't use her.
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According to a recent poll, 78 percent of Russians supported the formal accession to the Russian Federation of four regions of Ukraine, on whose territory hostilities with Russian occupiers continue. So don't say that Russian citizens are innocent of killing Ukrainians.
Russians also "agree" as with the presidential election. In Russia, no one has been considering the opinion of Russians for a long time, all these percentages are drawn without their participation, while the overwhelming majority are against fighting!
However, on the territory of Russia, we do not see mass protests against the war and the policy of military aggression chosen by Putin's entourage against neighboring states, including against Ukraine, with which many Russians have family ties. The fact that in Russia the people do not control the government they have elected is the fault of all the people of this country. Other countries cannot interfere in the internal affairs of Russia and give them instructions on how to act correctly in order for their government to act within the framework of the Constitution and in the interests of the people. On the other hand, it is not Putin who is now killing civilians in Ukraine. This is done by hundreds of thousands of ordinary Russian citizens to the enthusiastic exclamations of their wives, parents and children. The inhabitants of Ukraine, who are dying every day under the shelling of Russian shells and rockets in their own homes, are not helped in any way by the fact that individual Russians in the kitchen are whispering so that no one will hear them that they are against the war. If they cannot openly express their opinion and slavishly obey their criminal regime, then this is their problem, and in this case they will all have to share the responsibility for military aggression against neighboring states. After all, reparations will have to be paid for many more generations of Russians.
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Of course, these are only the numbers that they made themselves, all this is done so that everyone can see that nothing depends on the Russians. Only now they do it by a group of countries that help them to do this.
In my country, Coinbase is not in demand because access is denied. I live in Kazakhstan, near Russia. I advise you not to use this site, as it is not very interesting. Soon, if this continues, then I am waiting for Coinbase to go bankrupt, be careful. Don't use her.
is it true what you said my friend Bliznec (https://www.altcoinstalks.com/index.php?action=profile;u=73664) about coinbase ?
Is it also because of the impact of the massive layoffs carried out by Coinbase because of the impact on crypto prices, so there is certainty that Coinbase will go bankrupt, not for anything else.
but I myself have never used Coinbase and cannot provide more information about it.
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Of course, these are only the numbers that they made themselves, all this is done so that everyone can see that nothing depends on the Russians. Only now they do it by a group of countries that help them to do this.
In my country, Coinbase is not in demand because access is denied. I live in Kazakhstan, near Russia. I advise you not to use this site, as it is not very interesting. Soon, if this continues, then I am waiting for Coinbase to go bankrupt, be careful. Don't use her.
is it true what you said my friend Bliznec (https://www.altcoinstalks.com/index.php?action=profile;u=73664) about coinbase ?
Is it also because of the impact of the massive layoffs carried out by Coinbase because of the impact on crypto prices, so there is certainty that Coinbase will go bankrupt, not for anything else.
but I myself have never used Coinbase and cannot provide more information about it.
After the recent events with the FTX exchange, I don't believe anything anymore and I won't be surprised.
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Of course, these are only the numbers that they made themselves, all this is done so that everyone can see that nothing depends on the Russians. Only now they do it by a group of countries that help them to do this.
In my country, Coinbase is not in demand because access is denied. I live in Kazakhstan, near Russia. I advise you not to use this site, as it is not very interesting. Soon, if this continues, then I am waiting for Coinbase to go bankrupt, be careful. Don't use her.
is it true what you said my friend Bliznec (https://www.altcoinstalks.com/index.php?action=profile;u=73664) about coinbase ?
Is it also because of the impact of the massive layoffs carried out by Coinbase because of the impact on crypto prices, so there is certainty that Coinbase will go bankrupt, not for anything else.
but I myself have never used Coinbase and cannot provide more information about it.
After the recent events with the FTX exchange, I don't believe anything anymore and I won't be surprised.
no one can know and can't predict what will happen with FTX, but it has happened and this has clearly tarnished and made many fear that something like this would happen to others.
maybe now everyone has to be more thorough in all the actions that will be taken and don't trust too much with the exchange to be used as a place to store your funds.
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This is something sad for Russian citizens who use platforms like Coinbase, I know what Russia is doing may not be justified by other countries but blocking Russian people's accounts that have nothing to do with this situation is also very pity.
Blocking the accounts of Russians on the cryptocurrency exchange is a trifle compared to what the Russian people are doing towards the Ukrainians. In Ukraine, hundreds and thousands of Ukrainians and more civilians - women, old people and children - are dying every day at the hands of the Russians. This is serious. And somehow they are not at all interested in the fact that some in Russia do not agree with this war in Ukraine and instead of openly declaring their position on the streets, they quietly whisper about it in their kitchen so that no one will hear them.
Blocking Russian accounts is nothing compared to what awaits the Russians ahead for their military aggression in Ukraine. Let them get used to it. For the pleasure of robbing, raping and killing Ukrainians, they will have to seriously pay for many generations.
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this is just a beginning of a team
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If desired, it is easy to do. It is a pity that politics breaks into the cryptocurrency space as well.
Cryptocurrency cannot exist in states and not be influenced by the state and its policies. Otherwise, cryptocurrency would be immediately banned. This is especially true for finances. Money has always been in the exclusive sphere of influence of each state. Therefore, it is not surprising that cryptocurrency exchanges and other structures related to cryptocurrency invariably fall under the influence of authorized government bodies. This is not to say that this is completely bad for cryptocurrency.
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If desired, it is easy to do. It is a pity that politics breaks into the cryptocurrency space as well.
Cryptocurrency cannot exist in states and not be influenced by the state and its policies. Otherwise, cryptocurrency would be immediately banned. This is especially true for finances. Money has always been in the exclusive sphere of influence of each state. Therefore, it is not surprising that cryptocurrency exchanges and other structures related to cryptocurrency invariably fall under the influence of authorized government bodies. This is not to say that this is completely bad for cryptocurrency.
I do not agree that cryptocurrencies are prohibited in countries. But they could be so by not being something controlled by the governments of those states, the interests of a powerful few over the masses, so as not to lose their status. With FIAT it is different, because they are the ones who control it and can do whatever they want, but cryptocurrencies have no owner or issuer, and that's what scares them the most.
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I do not agree that cryptocurrencies are prohibited in countries. But they could be so by not being something controlled by the governments of those states, the interests of a powerful few over the masses, so as not to lose their status. With FIAT it is different, because they are the ones who control it and can do whatever they want, but cryptocurrencies have no owner or issuer, and that's what scares them the most.
No one should be able to regulate the circulation of cryptocurrency so that it can never be banned by any country. Cryptocurrency is an alternative payment or long-distance transaction that can minimize the costs required so that it will not take too long and arrive very quickly. to the sender's destination.
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If desired, it is easy to do. It is a pity that politics breaks into the cryptocurrency space as well.
Cryptocurrency cannot exist in states and not be influenced by the state and its policies. Otherwise, cryptocurrency would be immediately banned. This is especially true for finances. Money has always been in the exclusive sphere of influence of each state. Therefore, it is not surprising that cryptocurrency exchanges and other structures related to cryptocurrency invariably fall under the influence of authorized government bodies. This is not to say that this is completely bad for cryptocurrency.
I do not agree that cryptocurrencies are prohibited in countries. But they could be so by not being something controlled by the governments of those states, the interests of a powerful few over the masses, so as not to lose their status. With FIAT it is different, because they are the ones who control it and can do whatever they want, but cryptocurrencies have no owner or issuer, and that's what scares them the most.
The fact is that the form of social structure on our planet is states, and it is states that determine what can be money and what will be the conditions for its circulation. The opinion of individuals or groups is not decisive in this regard until they have the opportunity to legally influence political processes in the country.
Cryptocurrency cannot exist in a society and be free from the general laws of this society. Therefore, if we want cryptocurrency to develop, we need to have more supporters in the legislative bodies of each state.
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I do not agree that cryptocurrencies are prohibited in countries. But they could be so by not being something controlled by the governments of those states, the interests of a powerful few over the masses, so as not to lose their status. With FIAT it is different, because they are the ones who control it and can do whatever they want, but cryptocurrencies have no owner or issuer, and that's what scares them the most.
No one should be able to regulate the circulation of cryptocurrency so that it can never be banned by any country. Cryptocurrency is an alternative payment or long-distance transaction that can minimize the costs required so that it will not take too long and arrive very quickly. to the sender's destination.
What you mentioned is correct because the main aim of creating cryptocurrency is to create a digital currency that is anonymous and whose owner is not known. But do you feel that nowadays it seems like many people are doing KYC so that in this way it will provide information about the owner of the wallet? rich people or not, if it's like that, then the future of cryptocurrency may not be anonymous anymore.