Coinbase has "train[ed] more law enforcement agencies globally than anyone, even the Department of Justice"
Did you see this testimonial a few weeks ago that Coinbase gave to the US Congress? It was delivered on March 14th to the "Subcommittee on Capital Markets, Securities, and Investment".
Here's the link: https://blog.coinbase.com/coinbases-written-testimony-for-the-subcommittee-on-capital-markets-securities-and-investment-47f8a260ce41
This section particularly caught my attention.
In addition to our formal regulatory role, Coinbase continuously shares its expertise to make sure our ecosystem is clean and compliant. We train more law enforcement agencies globally than anyone, even the Department of Justice. We have a team of individuals who offer expert training on cryptocurrencies and the blockchain to the world’s leading law enforcement agencies, including: the Federal Bureau of Investigation, Drug Enforcement Agency, Marshals Service, U.S. Postal Service, Department of Homeland Security, U.S. Secret Service, Internal Revenue Service’s Criminal Investigative Division, Europol, Interpol, Scotland Yard, the Royal Canadian Mounted Police, the Swiss Federal Police, the Spanish Federal Police and many state and local agencies.
I get it, we still live in a gov-centric world and we still have to ask for permission for nearly everything in life...especially in the crypto space. But DAMN! Is it really necessary to "train" all of these government agencies? I guess it's better that Coinbase train them and potentially influence their understanding of the blockchain/crypto space?
Look at all the departments that Coinbase trains and works with.
- Federal Bureau of Investigation
- Drug Enforcement Agency
- Marshals Service
- U.S. Postal Service
- Department of Homeland Security
- U.S. Secret Service
- Internal Revenue Service’s Criminal Investigative Division
- Europol
- Interpol
- Scotland Yard
- Royal Canadian Mounted Police
- Swiss Federal Police
- Spanish Federal Police
- and many state and local agencies
What do you think? Is Coinbase still on "our" side? Would you use them?
-Ashe
Coinbase is a good platform for the people that don't know yet much about crypto and its the platform that i used for the first time to buy bitcoin. Personally i think that working with governement agencies bring them more credibility with people that are yet not sure about investing in crypto.
Still i hope this year, BINANCE will move to Malta and start accepting FIAT as also open their decentralized exchange. :)
woot woot!! Yeah, we still have to work w/ these gov goons for a few more decades until we've built around them enough to ignore.
Coinbase represents a platform with the business savvy and corporation competence to represent the widely wide-spread crypto traders. They paintings with institutional traders as well now not simply individuals.
with out at the least one predominant exchange stepping up and working with authorities companies, the crypto community will face even extra pressure and suppressed adoption. it is able to be a essential evil, but it does benefit the wider network.
"essential evil"...good phrase considering where we are w/ crypto and gov.
Coinbase represents a platform with the business savvy and organization competence to represent the generic crypto investors. They work with institutional investors as well not just individuals.
Without at least one major exchange stepping up and working with Government agencies, the crypto community will face even more pressure and suppressed adoption. It may be a necessary evil, but it does benefit the broader community.
good comment and great point. I tend to think the same. We aren't just gonna invent crypto, snap our fingers and expect the gov to leave us alone. Probably 100 years before we're anywhere close to that.
My relationship with coinbase is severed as soon as I find a suitable alternative route for fiat/crypto exchange.
I give zero f***s for the regulation surrounding this budding counter-economic movement. The government is scrambling and clawing for relevance in a market that they can't keep up with.
Boy, you done went and got me going lol
hahaha, EOS will have awesome decentralized exchanges soon enough.
Have they released a timeline?
Coinbase is centralized all the way sounds like. Question is why would they be training all above agencies about cryptocurriences?
Supposedly to help its customers but maybe not.....
They have no interest in the free market except to control and regulate it.
How did we allow them to control and regulate us so much?
One tiny compromise at a time.
When you compromise between liberty and anything else, you lose liberty.
Nothing is sacred, nothing is hidden, nothing is secure.
Reminder to come back read.
Don't forget ;)
It's worth it.
Okay so yeah hopefully coinbase is training them on crypto like there's nothing you can do about it. But just so you know how it works this is how it works. But if coinbase is a corporation in all corporations are created by the government then essentially coinbase is a de facto government wing. And if someone has stated earlier, EOS is promising to offer so much dope decentralized everything especially considering that Dan Larimer is an anarchist voluntaryist it's about to get really real.
Fuck the thieves called the government!
Taxation is theft.
Statism is slavery.
Its the only way Coinbase knows how to exist in the crypto currency ecosystem. They made a deal with the devil as it were. It's a brilliant strategy, albeit a sell-out strategy. I'm sure Gemini has done the same. It's the sort of thing that makes room for decentralized exchanges like Bisque.
i guess you pretty much have to at this point unless you are completely decentralized.
As said by Brain Armstrong , "It's important to understand how Coinbase thinks about regulation and compliance in the digital currency space. As an exchange, we view compliance as key to digital currency's success".
Human fear the unknown. So, it makes sense that the humans in these soulless government agencies at least get to know what cryptos are in the scope of their jurisdiction. Might help to reverse the demonization and counter the FUD spread by people who don't have an understanding.
I contend it is part of the mainstream adoption to have the mainstream departments learn from the experts and not all a bad thing.