Coinbase, one of the world’s largest cryptocurrency exchanges, has made significant changes to its policies.
Coinbase has made major changes to its policy on corrupt transactions for citizens of Canada, Singapore, and Japan. This policy will be implemented after fulfilling the legal requirements.
The new Coinbase policy will apply to all users who send cryptocurrencies to someone else without a Coinbase wallet. From April 1, the US Exchange will also ask for the identities of the sender of the crypto assets and the residential addresses of the recipients.
According to Coinbase, the policy will be implemented in Canada from April 4. To transfer cryptocurrency or digital assets worth more than Canadian 1,000 dollars from Coinbase to another platform, the recipient must provide the full name and address of the recipient.
There is no limit on remittances as per the policy formulated for Singapore. To transfer digital currency from Coinbase Vault to another wallet, the recipient must provide the full name and home address.
The decision of Coinbase is being criticized by the corrupt community and the decision of Coinbase is being criticized all over the world. It should be noted that after the Russia-Ukraine war, the European Union, the United States, and the United Kingdom had requested Coinbase and Binance to ban Russian accounts.
The request was rejected by Binance, but Coinbase bowed to Western powers and banned more than 25,000 Russian crypto accounts.