Coinbase noted that it would not “institute a blanket ban” against Russia in addressing the request from Ukrainian officials to freeze the accounts of all Russian users.

After Ukraine prime minister Mykhailo Fedorov asked digital currency exchanges to “sabotage ordinary users,” a spokesperson from Coinbase said that a request to ban all Russian customers would harm “economic freedom.”

Instead, Coinbase will continue to implement all sanctions that have been imposed, including blocking accounts and transactions that may involve sanctioned individuals or entities.”

A spokesperson for Coinbase said that a unilateral and total ban would punish ordinary Russian citizens who are suffering through historic currency destabilization as a consequence of their government's aggression against a democratic neighbor.

However, a few crypto firms have entirely shut down operations in Russia.
The fifth-largest Ethereum mining operation, Flexpool, revealed last week that it had stopped providing services to Russian Ethereum miners. Three days ago, the cryptocurrency exchange Kuna eliminated all crypto trading pairs connected to the Russian ruble.

In addition, the Ukrainian non-fungible token (NFT) platform Dmarket has banned Russian users.