25,000 Russian users blocked! Biden launches sanctions, Bitcoin becomes a joke?

25,000 user wallets in Russia blocked

On March 8, a Weibo big V broke the news and caused a heated discussion.

He wrote: “Coinbase, one of the world’s largest cryptocurrency exchanges, blocked the wallets of 25,000 Russian users a few hours ago, citing U.S. government sanctions on Russia. Say yes without borders? Say yes Hedging? Security? Decentralization? A war is all fucking exposed.”

25,000 Russian users blocked! Biden launches sanctions, Bitcoin becomes a joke?

In order to verify the authenticity of the matter, Yijian Finance found the original text of Bloomberg.

According to Bloomberg, Coinbase Chief Legal Officer Paul Greeva said in a company blog post that the largest U.S. cryptocurrency exchange has banned sanctioned individuals and is using blockchain analytics to identify potential ties to them. address and add it to the internal block list.

“Today, Coinbase blocked more than 25,000 addresses associated with Russian individuals or entities we believe are engaged in illegal activities, many of which we discovered through our own proactive investigations,” Greeva wrote. “We shared this information with the government. , to further support sanctions enforcement.”

As we all know, cryptocurrencies have always been known for being decentralized, safe-haven, and unregulated. But I didn't expect that this time the Russian-Ukrainian war was raging, but the cryptocurrency fell directly from the altar.

As long as the United States has a word, if you turn your face, you will turn your face

It is understood that Coinbase, founded in 2012, is one of the world's largest virtual currency digital asset exchanges, and the first bitcoin exchange in the United States to hold formal photos, and will be successfully listed on Nasdaq in 2021.

According to Coinbase's official website, the company's mission is to expand economic freedom around the world. Anyone is eligible for financial services that can enrich their lives and that of their families. If the world economy operates according to common standards that are not manipulated by any corporation or nation, the world will be a fairer and freer place, and human progress will be accelerated.