- Coinbase closed down Wikileaks’ account without notice or explanation.
- Wikileaks has called for Global Blockade of Coinbase, claiming the exchange is “an unfit member of the crypto community.
According to the announcement made by Wikileaks, Coinbase cryptocurrency exchange closed down its official shop without notice or explanation, this made the organization called for a global blockade of Coinbase, claiming the cryptocurrency exchange and payment processor is “an unfit member of the crypto community.”
Wikileaks announced this call on Friday after its official shop was blocked. The organization said:
“Coinbase has blocked the official @Wikileaks shop from its platform without notice or explanation.”
Wikileaks sells items such as stickers, clothing, accessories, phone cases, posters, books, and has recently added Cryptokitties.
the organization also posted part of a letter claimed to be sent to them by the crypto exchange which references the Financial Crimes Enforcement Network (FinCEN). The letter states that:
“Coinbase is a regulated Money Service Business under Fincen, [and is] obligated to implement regulatory compliance mechanisms,” and added:
“Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of Service and we regret to inform you that we can no longer provide you with access to our service.”
The letter further instructs the organization to withdraw its remaining balance:
“We respectfully request that you follow the on-screen instructions presented when you log into your Coinbase account to send any remaining balance offsite to an external address.”
Wikileaks responded to this action by announcing that:
“Wikileaks will call for a global blockade of Coinbase next week as an unfit member of the crypto community. Coinbase, a large Californian Bitcoin processor, responding to a concealed influence, has blocked the entirely harmless @Wikileaksshop in a decision approved by management.”
Andreas Antonopoulos, a bestselling Bitcoin author wrote:
“We have come full circle. Many people’s interest in bitcoin started when Wikileaks was out under an extrajudicial embargo by Visa, Mc, Paypal, and banks. Now Coinbase has repeated history. Oops.”
Andreas further explained,
“It’s purely symbolic, unlike the first embargo. Now they have many options. But the symbolism is a pretty poignant reminder of what centralization and banking regulations mean.”
What do you think of Coinbase exchange’s action and the response by Wikileaks? Tell us in the comments section below.