Are Coinbase User Identity Guidelines A Systemic Risk For Bitcoin?

It is never hard to find a good debate on the Bitcoin subreddits, although some of them are taking things a bit too far regarding imagination. A lot of people are still taking offense to the fact Bitcoin companies are complying with certain government-issued procedures, such as KYC and AML. A side effect of this compliance leads to Coinbase customer disgruntlement, as some people feel like they are being treated like criminals just because they enjoy using Bitcoin. But is there some truth to these claims, or are people starting to see conspiracy theories everywhere?

Also read: Number of Bitcoin Classic Nodes Gets Close To 1,500

CoinbThemerkle_Bitcoin Price Coinbasease Is Labeled As a Systemic Risk 

Popular Bitcoin companies will have no trouble attracting a lot of attention, although that may not always result in positive comments. Especially when it comes to verifying user identities in the Bitcoin world, things can get quite hairy. A lot of people value their pseudonymity, and the compliance with existing AML and KYC guidelines force Coinbase to ask for identity documents,

Read more ... source: TheBitcoinNews

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