why Monero will NOT be the next coin getting added to Coinbase

hansae (25)in #monero • 7 years ago (edited)

Hey guys,

in the last weaks there were a lot of rumours about which coins getting added next to coinbase.

I will explain why I think Monero will NOT get added to coinbase anytime soon:

Not only is it a privacy coin (coinbase is anything but privacy) but also coinbase must, foremost, comply with regulations that offer transparency of transactions linked to identity to the U.S. government.

Unless they’re relieved of their duties beyond money leaving their platform (which I seriously doubt), that means Monero is effectively ruled out as a candidate. Even if they’re not responsible for tracking once it leaves the platform, they are responsible for determine source of deposits, so again, Monero as well as ZCash, and others are effectively non-starters for Coinbase.

This was something I came to conclusion on a month ago when I started investigating just how much Coinbase tracks your Bitcoin or rather “their Bitcoin” even as you send to your own private wallets and what you do with it after that. It’s not often talked about, but the tracking capabilities of U.S. firms and Government runs deep.

I wanted to keep it short and there you have it.

Cheers

#cryptocurrency #coinbase #bitcoin