Sunday, April 22, 2018

Did the Feds pressure Coinbase to cut off Wikileaks from using their exchange?

An interesting thing occurred this week in the cryptocurrency sector that begs one to ask the question of whether the U.S. based exchange Coinbase is now being coerced into becoming a tool for Federal agencies.  And the reason for this is that Coinbase suddenly, and with little notice, cut off Wikileaks from using their exchange for cryptocurrency services.


This hasn't been the best week for WikiLeaks, to put it mildly. Coinbase has shut off the WikiLeaks Shop's account for allegedly violating the cryptocurrency exchange's terms of service. In other words, the leak site just lost its existing means of converting payments like bitcoin into conventional money. While Coinbase didn't give a specific reason (it declines to comment on specific accounts), it pointed to its legal requirement to honor "regulatory compliance mechanisms" under the US' Financial Crimes Enforcement Network. 
This doesn't prevent WikiLeaks from accepting cryptocurrency, but it will have to scramble to find an alternative if it wants to continue taking digital money from customers buying shirts and coffee cups. Unsurprisingly, the organization is less than thrilled -- it's calling for a "global blockade" of Coinbase, claiming that the exchange is reacting to a "concealed influence." - Engadget
The U.S. government has already put strong regulatory pressures on Coinbase to disclose trading activities on its exchange so that agencies such as the IRS can attempt to track down tax evaders.  And of course the so-called 'War on Terror' allows the Feds to intercede in any business or operation under the guise that they might aiding in the facilitation of money laundering or 'funding terrorism'.

While there is not yet any provable evidence that the Federal Government is involved in this action by Coinbase to cut off Wikileaks from using its services for cryptocurrency donations and product purchases, it is too much of a coincidence that this attack against Wikileaks comes just days after the New York Attorney General started an investigation into crypto exchanges.

1 comments:

Wikileaks, the whistle-blowing agency that's now almost solely run by founder and fugitive Julian Asante from a small room within the Ecuadorian embassy in London wherein he's claiming asylum from the police, claims that considered one of its professional stores has been taken down via crypto currency exchange Coinbase. The Coinbase save sold Wikileaks-branded products along with online coursework help shirts, mugs, posters, and the opposite form of well-known stuff that remains to be had on a separate Wikileaks keep web page. It also normal a diffusion of cryptocurrencies.

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