Coinbase proposes crypto tech to promote global sanctions compliance By Cointelegraph

The United States-based crypto exchange Coinbase (NASDAQ:) has proposed the use of cryptocurrencies to help ensure compliance with economic sanctions. This recommendation comes by highlighting the ease of laundering and sanction evasion of fiat currencies made possible by traditional financial infrastructures.

Written by Coinbase’s chief legal officer Paul Grewal, the blog talks about the growing range of global sanctions put forth amid the Russia-Ukraine conflict. The crypto exchange supported the government’s decision to impose sanctions on individuals and territories, highlighting its importance in “promoting national security and deterring unlawful aggression.”