Earlier in the week, the cryptocurrency account of the whistleblowing website WikiLeaks has been banned by Coinbase, one of the leading cryptocurrency exchange.
The WikiLeaks account was reportedly in direct violations of Coinbase’s terms and conditions.
This ban will permanently stop all transactions for the Wikileaks account, which means it will not be able to convert payments like bitcoin into conventional money.
As per the report displayed on Engadget, a tech website, with no particular reason was given for the ban imposwed by Coinbase, however, it highlighted that the WikiLeaks account failed to meet its legal requirement of “regulatory compliance mechanisms” under the US Financial Crimes Enforcement Network.
Following this ban, WikiLeaks has decided to respond back, going so far as to demand a “global blockade” of Coinbase, as the NGO claims that the exchange has responded to an “obscured influence.”
This news seems to be following the recent trend of growing precautionary measures being implemented by several companies. Arguably, the trend first made headlines when Facebook announced a ban on crypto ads back in January 2018, and Google ignited this trend even more by announcing a ban which would come into effect from June 2018.
Notably, social media giants like Facebook and Twitter have also cracked down on malicious cryptocurrency mining practices incurring on their respective platforms.
Even Google Chrome’s web policy has allowed cryptocurrency mining extensions but the contingency being that the extension’s sole purpose and the user has been provided with sufficient information regarding the mining behavior.
The statement given by James Wagner, Extensions Platform Product Manager at Google, reads, “Unfortunately, nearly 90 percent of all extensions with mining scripts that developers have attempted to upload on the Chrome Web Store has failed to comply with these policies, and as a result they have either been rejected or taken down from the store.”
However, Google revealed that all extensions with Blockchain-related purposes other than mining will continue to run on the Chrome Web Store.
Whether or not the crypto-market will manage to reclaim its formed highs is still up for debate, but recent prices do show some good progress for all cryptocurrencies.