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Coinbase denny sale of data to US government

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Exchange Coinbase used its official Twitter account to deny an alleged sale of data to the United States Immigration and Customs Service (ICE).

However, the company said that it provides information for investigations of financial crimes, aiming to offer a better experience for users who use the platform.

Rumors of a possible data sale by the exchange, arrived through the user of Twitter Watcher Guru and quickly many users spoke out on the subject.

We want to make this incredibly clear: Coinbase does not sell proprietary customer data. Our first concern has been and always will be providing the safest and most secure crypto experience to our users.

Coinbase and Cybersecurity

Coinbase Vice President of Global Intelligence John Kothanek informed the United States Congress in early June that his company was eager to help the cause of Homeland Security.

Kothanek emphasized, “If you’re a cyber criminal and you’re using cryptocurrencies, you’re going to have a bad day. … We will track it down and find that funding and hope to help the government seize these cryptocurrencies.”

This decision by Coinbase caused great controversy among cryptocurrency fans, as according to them, these attitudes are contrary to the decentralization ideology of the community.

Coinbase: the largest exchange in the United States

Coinbase is currently the largest cryptocurrency exchange in the United States, the company made history by going public on Nasdaq on April 14, 2021.

Additionally, the company is regulated by the New York Department of Financial Services with a license for virtual currencies, which serves 44 US states.

In recent years Coinbase has become one of the “giants” in the cryptocurrency market, in other words, a crash of this exchange could mean a severe blow to the ecosystem.

For this reason, many cryptocurrency enthusiasts have been debating about the possible sale of data by Coinbase and how this could affect the company’s growth and development in the coming months.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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