Coinbase Asking for More Information Than Banks?
Update 8/10/2015 8:20 PM EST: Coinbase has responded to us regarding its reasoning for its information requirements, saying that, “We are required by law to request extra info for high volume customers. High volume. This is the EDD part of KYC.” Coinbase, as you might know, is what many consider to be the “Apple” of the Bitcoin ecosphere. With media coverage from The New York Times, The Wall Street Journal, and even TIME magazine listing it as number two in its “Top 10 Exciting Startups” article back in 2013, Coinbase is easily one of the biggest startups inside and outside the Bitcoin niche.
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Today, yes. Coinbase, leading bitcoin wallet and exchange with over 3.8 million registered wallets and 2.4 million users, has had many complaints and serious issues about compliance, regulations and manipulation of accounts over the last few months. This week, an anonymous source revealed that Coinbase is currently a part of a regulatory compliance program which requires users to give sensitive information to deposit or withdraw into a Coinbase account. The Coinbase team said in an email: "As a part of our compliance program, we are required to periodically review high volume accounts. As....
Follow Twitter for up to date information: https://twitter.com/search?q=coinbase&src=type. Some people are starting to be able to sign in: Bitkoins @bitkoins1h. BEWARE: Coinbase #btc <-> USD transactions a mess http://bitkoins.com/discussion/75408 ... #bitcoin. Claire123 on Bitcoin Talk. "I was able to get in, finally, by switching from FF to IE but the page looks corrupt and I can't really do anything. At least my balance is the same. I'm viewing the source in IE and my information is all there but it's not displaying-I wonder if coinbase ever tested this on Windows 8 in IE???" Mooon....
Is the John Doe summons issued by IRS to Coinbase valid and falls within the guidelines of the department? The eyes of the cryptocurrency community are on Coinbase ever since it got served with a John Doe summons by the IRS. The summon requires Coinbase to hand over all information pertaining to the platform’s users between 2013 and 2015. The issue of generic, blanket information request by the IRS has given rise to few questions regarding the powers of the government institution and constitutional rights of individuals. Even though Coinbase has filed an appeal against the summons in the....
Coinbase, the largest U.S. cryptocurrency exchange by trading volume, has announced an exciting new update for its users. The exchange’s roughly 73 million verified users will now be able to make information about their crypto holdings public. Coinbase Goes Social Senior product manager Rishav Mukherji announced this update in a blog post on Friday. Coinbase is making […]
Shubham Sham notified Coinbase of the bug. Coinbase called it low priority, saying the risks are too little to warrant an immediate fix. Editor's Note: Coinbase has defended themselves here. Coinbase is all over Reddit today. Several people reported receiving e-mails from the Bitcoin enterprise, asking them to make a payment to another user. On top of that, a list was released containing information of many Coinbase users. At first, most people thought this was an April fools joke, but eventually, most became worried Coinbase was hacked. With recent events in mind, who could blame them?....