Reminder: Withdraw Your Bitcoin Off Exchanges
Needless to say, as it stands today and has stood since the first bitcoin exchange was launched, your bitcoin is not safe on the exchanges.The below is a direct excerpt of Marty's Bent Issue #1207: “Reminder to get your bitcoin off the exchange” Sign up for the newsletter here. (via Marty Bent) Coinbase dropped an earnings report today and with it came new language in their 10-Q about the legal claims retail users have in the event of a bankruptcy event. Reacting to new regulations from the SEC, Coinbase had to add language that communicated that retail users of their platform could have....
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Why should I withdraw my bitcoin from an exchange?If you have to ask permission to use what’s yours, it’s not truly yours. Have you ever heard the phrase “Not your keys, not your coins”? It’s true. If you do not withdraw, and hold your bitcoin private keys, you are not in control of your own money. ...
In January, a transaction sent by the Reminder to News Media Canada was blocked by PayPal for being noncompliant with PayPal’s “acceptable use policy.” Reminder, formerly known as the Flin Flon Daily Reminder, is a newspaper published three times a week in Canada. Reminder publisher Valerie Durnin sent a payment worth $242.95 to the News Media Canada team to enter an article entitled "Syrian family adapts to new life” to the annual Canadian Community Newspaper Awards. Prohibited news. Later, it was discovered that PayPal locked the account of News Media Canada because the transaction....
Here’s why you need to hold the keys to your own bitcoin and never store large amounts on exchanges.
The Monetary Authority of Singapore (MAS) has reiterated that cryptocurrency exchanges need to conform to restrictions on Russian users imposed over Moscow’s invasion of Ukraine. The reminder comes after researchers established that pro-Russia activists have raised millions of dollars in digital assets to support its war effort. Singapore Says Measures Targeting Russia Apply to All Financial Institutions, Including Crypto Exchanges Compliance with financial sanctions on Russia is a must for licensed cryptocurrency exchanges, the Monetary Authority of Singapore (MAS) commented for local....
A cryptocurrency platform based in South Korea has gone into bankruptcy as declared by a local court after its customers can no longer withdraw their virtual funds worth $1.75 billion. Related Reading: Coinbase CEO Brian Armstrong Finds Ally In Cardano’s Hoskinson For Crypto Czar Bid The unfortunate circumstances faced by Delio serve as a reminder […]