Coinbase CEO ruled out blocking all Russian users

by in Cryptocurrency News

Brian Armstrong

At the end of last week, crypto exchanges announced their withdrawal from the Russian market. The American platform Coinbase was also on this list.

Last Tuesday, the press service of this company explained its situation. It reassured the Russians and stressed that the exchange would not block all users from the Russian Federation.

The company's CEO Brian Armstrong also ruled out the possibility of stopping work on the Russian market. Traders may continue to trade, but Coinbase will concede with US law, including the sanctions policy.

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Armstrong said: "We do not prohibit in advance all Russian users from using Coinbase features. I think that everyone has the right to access basic financial services."

However, if the US authorities decide to introduce additional restrictive measures against Russian individuals and legal entities, the exchange will be forced to comply with all requirements.

According to Armstrong, the trading platform checks every user who registers an account and will block transactions from those IP addresses that may be owned by firms and Russians that are on the sanctions lists.