Coinbase blocks 25,000 Russian addresses

[Alichlas92]

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.

[Alichlas92]

@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?

[de_prof]

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.

[Freemind]

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.

[Jaephoenix]

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

[Alichlas92]

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.

[Freemind]

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?.

[Alichlas92]

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.

[Freemind]

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.

[Alcor]

@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.

[Ghozrd]

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.

[mahadev]

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.

[Freemind]

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.

[Evgenklm]

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.

[Octoalts]

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!.