Genuinely not trying to fear monger, but as a concerned customer it would be great if @coinbase could provide clarity around the statement from one of their reps that their analytics provider sold client data to 3rd parties.
Paging @brian_armstrong.https://cheddar.com/videos/coinbase-adds-support-for-ripple-s-xrp-despite-regulatory-uncertainty …
-
-
Selling data is very different from collecting it for regulatory purposes. I consented to Coinbase collecting my data for KYC/AML purposes. I did not knowingly consent to Coinbase collecting my data to sell to other parties.
-
No it's not very different, the same technical (very easy to do and hard to control) copying processes are involved. The laws of people are very different from the laws of nature; the former get violated quite frequently when it comes to data.
-
Sure. I’m talking about from the perspective of what I consented to the two are different. And that difference happens to be important to me, but hey, that’s just me! I can see why it wouldn’t be to others.
-
Your privacy is important to you and mine is important to me. Why do you think there is any strong relationship between these daydreams of ours and they way that centralized digital entities actually work?
End of conversation
New conversation -
-
-
Put it this way: for which businesses in the crypto space who KYC/AML' their customers do you have strong expectation that they are not and never will share such information? Why do you have such expectations?
-
My thought would be that my financial information is at least scrubbed if they are selling it, not literally my personal information to anyone.
-
Why do you expect this? It's much more useful if has specific identifying information that can be linked to your other online activities.
-
Working on banking software before as well as Healthcare it's pretty common practice to scrub names from the data to prevent it from being identifying. If they are selling it for the personally identifiable information I would assume that is illegal in us / uk at least.
-
It depends who is receiving the data. In some cases they are legally required to share the information. But the bigger problem is it's trivially easy to copy such information and, especially once shared even a little, a game of whack-a-mole to try to prevent further sharing.
-
True however these banking companies are audited for breaches so the company who breached would be responsible to disclose. These companies should be held to the same legal standards and likely are in breach and if so they should be held legally responsible as well.
-
In which jurisdictions? And which companies in the crypto space are under and religiously follow these regulations?
-
US and UK at least. Where coinbase is based.
- 3 more replies
New conversation -
-
-
For profit corporations seek "profit". Not much else to it.
-
is anyone even aware of
@bisq_network ?
End of conversation
New conversation -
-
-
Fully assumed this was happening
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.