consumer-protection, crypto-regulation, cryptocurrency

Make your voice heard — Share your thoughts on the new proposed crypto rules directly with the U.S.

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Coinbase

By Brian Armstrong, CEO and Co-Founder

The U.S. Department of Treasury is proposing onerous new regulations that will drastically increase the amount of personal information crypto exchanges will have to collect, store and share with the government. We encourage you to voice your concerns directly with the U.S. Department of Treasury by this Monday, January 4, 2021.

The U.S. Department of Treasury recently proposed regulations that would require cryptocurrency exchanges like Coinbase to collect and share with the government more personal information about you and the people you transact with. This is a big change and Treasury is not considering the impact it will have on you, our customers. That worries us.

We think this proposal represents too big of an intrusion on your privacy, and we want to make sure you know that you can voice your own concerns directly with the U.S. Department of Treasury by this Monday, January 4, 2021.

The proposed new rules impose unprecedented financial surveillance on many people like me who are participating in the crypto economy for legitimate purposes. The new requirements also mean that more personal financial information belonging to me and those I transact with will now be collected and retained by the government.

New regulation should only be made after a thorough and fair process, which involves feedback from industry experts and those that will be ultimately impacted. We view it as our obligation to you, and the entire crypto community, to encourage thoughtful comments and feedback about this proposed new rule which represents a rushed attempt to impose unnecessary new requirements on our industry and customers.

We’re proud to be the most trusted cryptocurrency platform and will continue to fight to ensure that your privacy rights are protected. We encourage you to voice your concerns directly with the U.S. Department of Treasury by this Monday, January 4, 2021.

Sincerely,

Brian Armstrong

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