Crypto-currency trading platform Coinbase has blocked 25,000 wallet addresses related to Russia.
The platform said the addresses were related to Russian individuals or entities it believed to have engaged in illicit activity.
The addresses were blocked over fears crypto-currency could be used to evade sanctions.
Coinbase’s chief legal officer, Paul Grewal, made the announcement on a company blog.
It means no access for sanctioned individuals and includes “sophisticated blockchain analytics” to identify accounts indirectly linked to banned users.
Soooo…if a private Crypto company can cut you off…do you really feel safe doing business with them? What if you are suddenly deemed the “enemy” and your assets are stolen by a private company?
h/t Bloody Peasant!