However, they reserve the right to restrict accounts that violate their user agreements, or when required to by law. Coinbase prides itself on a user-friendly interface and robust trading features. “Coinbase account restricted” can appear on your account when you least expect it. Even if your account shows a restriction that prevents you from making further trades, you can still convert the currency and withdraw it from your wallet or an accredited bank.
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When the trade clears, the funds will become available in your Coinbase or Coinbase Pro digital wallet. Account restrictions don’t cancel your previous trades. You may worry about pending trades on Coinbase if an account restriction pops up, but you can breathe easy. However, this is not likely something you need to worry about.
In cryptocurrency, the OFAC might do this for high-profile individuals who violate their codes. Account FreezesĪccount freezes would only happen if a court order or legal mandate required Coinbase to lock your account and freeze your assets. You can withdraw the currency and clear the balances, but you can’t do anything else with the account. If the user engages in fraudulent activity themselves, including mining scams, they lose access not only to the trading features but to the wallet as well. Even if you’re restricted, however, you can still withdraw your digital currency from an authorized bank account.īeyond account restriction, Coinbase also reserves the right to close an investor’s accounts. If this happens, Coinbase may restrict the account and prevent buying and selling on that account. This includes mining scams as well as information hacks. The main way that a Coinbase account can become restricted is if Coinbase considers an account to be at high risk of crypto fraud.
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