The Nasdaq-noted cryptocurrency exchange Coinbase has actually firmly insisted that it does not offer “exclusive customer data” after reports emerged that its Tracer item is offering “historic geo tracking data” to the U.S. Immigrations and Customs Enforcement (ICE).
Coinbase Responds to Reports of It Selling Customer Data to U.S. Government
Cryptocurrency exchange Coinbase came under fire recently when reports emerged implicating the Nasdaq-noted business of selling customer data to the U.S. government.
Coinbase Tracer, the analytics arm of the cryptocurrency exchange, has actually signed an agreement with U.S. Immigrations and Customs Enforcement (ICE) that would enable the government firm gain access to to a range of data, consisting of “historic geo tracking data,” according to an agreement gotten by guard dog group Tech Inquiry.
However, Coinbase clarified on Twitter Thursday: “We desire to make this exceptionally clear: Coinbase does not offer exclusive customer data.”
“Our Coinbase Tracer tools are created to assistance compliance and assistance examine monetary criminal offenses like cash laundering and terrorist funding. Coinbase Tracer sources its info from public sources, and does not use of Coinbase user data. Ever,” the exchange even more tweeted.
However, lots of people on Twitter do not think that Coinbase is not selling any customer data to the U.S. government, keeping in mind that the business particularly utilizes the word “proprietary” to explain the data it is not selling.
Coinbase offered a single analytics software application license to ICE for $29,000 in August in 2015, followed by a software application purchase possibly worth $1.36 million the next month.
The complete files of the agreement emerged today through a Freedom of Information Act demand by Tech Inquiry. The story was at first reported on Wednesday by The Intercept.
The disclaimer on the Coinbase site repeats what the business tweeted Friday, mentioning: “Coinbase Tracer sources its info from public sources and does not use of Coinbase user data.”
Do you believe Coinbase is selling customer data to the U.S. government? Let us understand in the comments area below.
Thank you for visiting our site. You can get the latest Information and Editorials on our site regarding bitcoins.
