TIL: The Coinbase Situation
Today I received notification via email describing the action Coinbase is taking in regards to the U.S. governments petition to disclose customer records for the last 3 years. It appears Coinbase has our privacy in mind, and states they will oppose this petition in its current form. This email was basically a blog post from November 18th, found on Coinbase website.
With all of this said, I do not see Coinbase fighting anything. They are going to fold under the pressure put on them to disclose the private information, because not do so may put their business in jeopardy.
Guess we will see how all this unfolds.
They should wipe the past 3 years data. close shop. Re-brand and relaunch.
Agree with the wait and (we shall) see.
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Thanks a bunch!
You know, I think Coinbase will fight this more than most are willing to give them credit for. While they do focus on maintaining regulatory compliance, they also have to know most crypto traders are very concerned about personal privacy issues. They also must know rolling over will lose a large amount of their customer base.
I am concerned with precedent courts have been setting with watering down fourth amendment rights. Even Supreme Court Justice Sonia Sotomayer was recently complaining about how close to no fourth amendment we are currently at.
I sincerely hope whichever judge presides over this case upholds the fourth amendment protections.
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