Coinbase, a San Franciso-based cryptocurrency exchange is apparently closed an account opened by indicting site Wikileaks for its online store. Wikileaks stores cities the violating terms and Services. The Wikileaks Shop is a Whistleblower site merchandise outlet. It sells shirts, phone cases, coffee mugs, posters and other branded regalia.
The users can purchase the items with the credit card or through a various cryptocurrency. The exchange appears to have closed an account owned by the organization for the store. The store won’t be able to collect payment through Coinbase. The cryptocurrencies are converted into digital dollars through the service provided by Coinbase
A Spokesperson of Verge ignored to comment on the closure of the media stating that they don’t “comment on individual accounts”. Coinbase’s TOS asserts that it can terminate accounts at its discretion. The termination notice says the service is regulated under US Treasury’s Financial Crimes Enforcement Network. It is designed to encounter money laundering.
Cryptocurrency as the mode of payment
This move doesn’t seem that the site can’t accept cryptocurrencies. This won’t be able to do through Coinbase system. The step has riled the organization and its supporters. On Twitter, the official Wikileaks accounts called for a boycott of exchange next week.
The author of Mastering Bitcoin and the Internet of Money, Andreas Antonopoulos, tweeted as follows “This is a particularly ironic move: Bitcoin received a boost when Paypal, Visa, and Mastercard cut off donations to the site in 2010. It is praised as a payment method which couldn’t be stopped.”
The moves probably won’t have much effect, as there are a number of other exchanges out there beyond Coinbase asserts Antonopoulos.
Image Source:- Wikileaks