Coinbase has joined the ranks of platforms criticizing Ukraine’s demand for crypto asset trading platforms to block Russian users.
The last day, the Minister of Digital Transformation of Ukraine made a call for major trading platforms to block Russian users. While Binance and Kraken say that they cannot do this unless there is a legal request; Coinbase, on the other hand, emphasized that such a request is not fair, saying that it means punishing ordinary Russian citizens. A spokesperson for Coinbase told Decrypt:
“A unilateral and complete ban would punish ordinary Russian citizens who have suffered historic currency destabilization as a result of their government’s aggression against a democratic neighbor.”
Ukraine has received over $20 million in Bitcoin donations to date. The country is trying to take steps in this direction as it is aware that cryptocurrencies can ease sanctions. But many officials, including Kraken CEO Powell, say they will comply if sanctions are extended to individual citizens.
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