Quote:
Originally Posted by BananaPancakes
I would assume they do this because they don't want to be associated with illegal activity (gambling, drugs, fraud, etc). According to their support page, they ask you to withdraw your crypto into your own wallet, which you should be doing in the first place anyway. This prevents them from tracking as well.
But yeah, the end goal of is to have no companies/third parties/intermediaries between our money, and value is transferred peer-to-peer.
I don't want Coinbase between my money either, but until decentralized exchanges are mainstream we are stuck dealing with what we have. |
From the article"
"Coinbase explains that the company is only trying to stay in compliance with federal anti-money laundering regulations and drug laws. We understand that any company has a fiduciary responsibility to protect the company for its shareholders.
But it appears that Coinbase has crossed the line by not only tracking coins purchased through its service, but also tracking how users spend their Bitcoins after withdrawing them from their Coinbase wallets."