The popular cryptocurrency exchange platform Coinbase announced on March 7th that it is blocking access to more than 25,000 blockchain addresses linked to Russian individuals and entities.
The company has shared all the blocked addresses with the US government to help enforce sanctions. The exchange has also blocked sanctioned actors from opening new accounts and detecting attempts to evade the ban.
The ban comes after Ukraine's VP Minister Mykhailo Fedorov asked all major crypto exchanges to block blockchain addresses used by Russian users to increase pressure on the Russian government.
Crypto exchanges refused to freeze all Russian accounts but said they would comply with sanctions imposed on Russia and will take steps to identify sanctioned entities and block their accounts and transactions.