Popular US cryptocurrency exchange Coinbase has announced that the company will not sell customer information to US immigration and customs enforcement. Previously, reports have been released claiming this.
Cancellation by Twitter message
On Thursday, it became clear from a crypto tracker on Twitter that rumors were circulating that Coinbase may have provided geolocation data to America’s immigration and customs enforcement. This has caused a lot of upheaval.
Statement debunked
However, Coinbase has made it clear that their company does not sell customer data to anyone. They have indicated that the main priority is and remains to provide a safe experience to the users of the platform.
The crypto platform has also announced that the Coinbase ‘Tracer tools’ have been created to comply with legal requirements. These tracer tools are used to investigate financial crimes, including terrorist financing and money laundering.
However, the data that Coinbase is legally required to provide to the government comes only from public sources and not from customer data.