Coinbase refuses to process WikiLeaks transactions

nabilbouasla (10)in #wikileaks • 6 years ago

The San Francisco-based cryptocurrency exchange, Coinbase, would have closed an account opened by the Wikileaks whistleblower site for its online store, citing violations of its Terms of Service.
Coinbase makes a strange decision
Any payment processor associated with cryptocurrencies adheres to strict guidelines. Coinbase based in San Francisco is an MSB regulated under FinCEN. This is a positive development, but it can also have negative repercussions. As such, the company decided to completely cut WikiLeaks.
According to the company, WikiLeaks represents a major violation of the Coinbase Terms of Service. For a site that sells merchandise and disseminates whistleblower information, there does not appear to be any real 'risk' involved. The blockade of Coinbase against WikiLeaks is not a positive development at all.
It is unclear if the WikiLeaks store will opt for a different payment processor or not. Coinbase has earned many dissatisfied looks when making this decision. They will also completely close the platform account since funds must be transferred as soon as possible. WikiLeaks will continue to accept Bitcoin donations through its website.
¿What's next for WikiLeaks?
It is not the first time that the platform of complaints faces the adversity of payment. Several years ago, PayPal, Visa and MasterCard made it impossible for people to donate directly to WikiLeaks. At that time, the project changed to Bitcoin, as it made much more sense to all the parties involved.
With that option that is no longer on the table, WikiLeaks could turn its back on the cryptocurrency altogether. For now, that is not the case, but it shows that companies centralized in this industry can still cause a bit of controversy. Andreas Antonopoulos is not too happy with Coinbase's decision either.
How this will affect the cryptocurrency industry remains unknown. Coinbase apparently tries to avoid any platform, company or service that can be considered remotely controversial. This could indicate that other entities will also lose access to this service.
ANNOUNCE: Coinbase has blocked the official @WikiLeaks shop from its platform without notice or explanation. You can continue to donate #Bitcoin to WikiLeaks at https://t.co/lvhoyhlqUa. #Coinbase #DefendWL #Cryptocurrency #Ethereum #BitcoinCash #ReconnectJulian pic.twitter.com/4BSS023OOk