Coinbase CEO Says Ordinary Russians Using Bitcoin as ‘Lifeline’

Coinbase Global Inc. isn’t banning all Russian users for the moment, though would comply if the U.S. government decides to impose such a restriction, according to Chief Executive Officer Brian Armstrong.

The cryptocurrency exchange will block transactions from IP addresses that might belong to sanctioned individuals or entities, as will any other regulated financial services business, Armstrong said in a Twitter thread. But it won’t pre-emptively ban all Russians from using Coinbase, he said.

“Some ordinary Russians are using crypto as a lifeline now that their currency has collapsed. Many of them likely oppose what their country is doing, ...