Coinbase CEO: We'll Comply w/ Russia Ban If US Government Tells Us To

Coinbase CEO, Brian Armstrong, has said the exchange will comply with a ban on Russian users should the U.S. government impose rules to that effect.

“If the U.S. government decides to impose a ban, we will of course follow those laws,” Armstrong said in a tweet.

Armstrong also took the opportunity to double down on the exchange’s existing stance when it comes to banning Russian users from the exchange amid the invasion of Ukraine.

“We are not preemptively banning all Russians from using Coinbase. We believe everyone deserves access to basic financial services unless the law says otherwise,” Armstrong also said.

He added that “some ordinary Russians are using crypto as a lifeline now that their currency has collapsed.”

Coinbase’s view is largely in line with other exchanges like Binance and Kraken, which have said they will not preemptively ban all Russian users, while also claiming they will comply with any specific sanctions requirements which arise.

Other exchanges have taken a different view.

Whitebit exchange told Decrypt via email that it has already, preemptively, taken steps against Russian users.

“Procedures for checking for sanctions lists have been introduced, trading activities with RUB [Russian ruble] have been closed, and registration of users from the countries of the Russian Federation and the Republic of Belarus have been suspended,” Whitebit said.