Russia Fines Coinbase $11k for Not Localising User Data

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Nov 13, 2023 22:52

A Russian court has fined crypto exchange Coinbase 1 million rubles ($11,000) for not localizing Russian users’ data within the country. This is part of Russia’s efforts to exert more control over the internet, with various international technology companies facing fines for similar violations. Companies such as Google, Apple, Spotify, WhatsApp, and Airbnb have all been fined in recent years. The Tagansky District Court of Moscow ruled that Coinbase had violated a law requiring the recording and storage of Russian users’ data in the country. The deadline for localizing personal data storage for foreign internet companies was July 1, with roughly 600 companies complying.