The Coinbase Dilemma: Regulations vs Customer Satisfaction
A Coinbase customer complains about the poor response from Coinbase customer support as the platfrom shuts down his account citing FinCEN regulations. The advancement in technology has drastically changed the travel patterns of an average human. People cover more miles, across geographies due to the increased need to travel for business and pleasure. Bitcoin, being a truly global currency has emerged as a champion for those who are constantly moving. While everyone praises Bitcoin for making it easy to spend money anywhere across the world without having to worry about conversion rates,....
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The United States Secret Service (USSS) has seized more than 25 bitcoins from a Coinbase account and seemingly converted them automatically to $13,000 USD, it has emerged. US Secret Service Seizes Funds. In an official notification dated today, USSS announced that on June 3 it had taken control of “$13,138.12 in U.S. Currency in Lieu of 25.0001538....
Coinbase is handing over customer data to the British tax authority, Her Majesty’s Revenue & Customs (HMRC). The measure affects customers with a U.K. address who received more than £5,000 ($6,450) worth of cryptocurrency during the 2019/20 tax year. On Oct. 2, Coinbase sent an email to its U.K. users advising them that it will share their account information with the HMRC. The exchange said the tax agency originally asked for records relating to all UK customers dating back to 2017, but it later worked out a plan that resulted in “a revised notice with reduced....
By using the features provided by Komodo platform, other cryptocurrencies can easily improve their adoption while ensuring customer satisfaction. As repeated many times in the past, not all cryptocurrencies are made equal. But Komodo, the ZCash based platform is going to change that. Following its “Blockchain for Everyone” mission, the platform now enables other cryptocurrencies to make use of its infrastructure for additional security and reliability. By using the features provided by Komodo platform, other cryptocurrencies can easily improve their adoption while ensuring customer....
Coinbase Vault, first revealed a few months ago, has now implemented a multisig feature that has been demanded far and wide by Coinbase's international customer base. In one fell swoop, Coinbase has set themselves apart from their competitor, Circle, in a big way. Today, Coinbase announced their Multisig Vault, which allows users to control their own private keys on Coinbase. This means that even in the event of Coinbase's untimely demise, bitcoins "stored" in the Coinbase multisig vault would still be accessible to the user. Users would be able to use open source tools, like this one, to....
The Nasdaq-listed cryptocurrency exchange Coinbase has insisted that it does not sell “proprietary customer data” after reports surfaced that its Tracer product is providing “historical geo tracking data” to the U.S. Immigrations and Customs Enforcement (ICE). Coinbase Responds to Reports of It Selling Customer Data to U.S. Government Cryptocurrency exchange Coinbase came under fire last week when reports surfaced accusing the Nasdaq-listed company of selling customer data to the U.S. government. Coinbase Tracer, the analytics arm of the cryptocurrency....