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

Illustration by James Bareham / The Verge Coinbase says it’s currently blocking 25,000 cryptocurrency addresses linked to Russian people or entities, defending itself against claims that Russia could evade sanctions with crypto. In a blog post published yesterday, chief legal officer Paul Grewal outlined how the financial exchange is complying with new rules imposed amid the ongoing invasion of Ukraine. That includes using “sophisticated blockchain analytics” to identify accounts that are indirectly linked to banned users. Coinbase indicated that the 25,000 blocked accounts were “related to Russian individuals or entities we believe to be engaging in illicit activity.” It didn’t specify when precisely they’d been blocked or how many of the restrictions were related to the... Continue reading…
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