• Bottom line is that the legit exchanges have to comply with the sanctions or they will lose access to banking. Coinbase and others will roll over under pressure from their banks. I suspect this is just spin to make the moronic crypto libertarians think that Coinbase agrees with them and their half arsed ideology.

    Note that Binance left China long ago and are HQ'd in Malta. Binance don't get to decide whether they comply with sanctions, Malta does.

  • I suspect this is just spin to make the moronic crypto libertarians think that Coinbase agrees with them and their half arsed ideology.

    It also smells a bit like rationalising potential war profiteering. (Not an attack on people who hold crypto. But these guys could earn big if Russian sanctions push people to them).

  • Of course they will all comply with sanctions and you would expect Coinbase to be the first too given where it is based and listing. This is all a response to the Deputy Ukrainian PM asking them to go beyond the sanctions. In the end I imagine the sanctions will have the same effect anyway as corporates will go belt and braces on applying them to make sure that they don't leave themselves open to any form of non-compliance.

    If most Russian banks are sanctioned then there will be no on/off ramp for Rouble based transactions to exchanges and looks like Putin is trying to put in place controls on individuals trading roubles for foreign currencies which close even more on/off ramps to exchanges for any new money to flow in.

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