ALL NEWS

Coinbase provides ICE data on customer geolocation: the

report, the American Government Agency uses Coinbase Tracer to access the historical data of customer geolocation and more than a dozen cryptocurrencies.

The new report reports that the Coinbase cryptocurrency exchange has provided the immigration and customs police agents (ICE) with a set of functions designed to track the company's customers. According to the report, ICE gained access to the operational information application called Coinbase Tracer, which provides various opportunities for tracking forensic data. The US immigration and customs police are a state agency under the Ministry of Internal Security. The main goal of ICE is to protect the country from cross -border crime and illegal immigration. The goal of Coinbase Tracer is to help ICE to track malicious and fraudulent transactions on the blockchain. According to The Intercept, this tool will allow ICE agents to "connect the addresses with real entities." An additional email published in the framework of the Law on Freedom of Information showed that ICE did not need to conclude a license agreement with Coinbase. The licensed agreement with the end user is used to describe what users can and cannot do with the software products of the company. Presumably, this means that ICE can freely use the data tracking tool at its discretion with minimal restrictions. When Coinbase was asked about these events, the press secretary Natasha Labrash simply provided a link to the company's website with words regarding this issue. The link to the Coinbase website says: "Coinbase Tracer receives information from open sources and does not use Coinbase users." The representative of Coinbase did not provide information about the restrictions on the use of Coinbase Tracer from ICE. It is reported that some users of Coinbase are indignant due to "poor" customer support. https://t.co/qblmod8k7u - Cointelegraph (@cointelegraph) August 25, 2021 ICE access to Coinbase Tracer follows from a contract in the amount of $ 1.36 million, which she signed with crypto -racing in September 2021. At that time, the essence of the contract was unclear and came down to the fact that Coinbase would supply the agency "Software for the development of applications as a service." Similar: Coinbase will close Coinbase Pro to combine trading services Recently, Coinbase often appears in the news for various reasons. According to Cointelegraph, the exchange strives for aggressive European expansion to expand its presence. Meanwhile, on Monday, Goldman Sachs reduced the rating of Coinbase shares to "sell" after more than 80 percent correction.

#COINBASE#BUSINESS#GOVERNMENT#UNITED STATES#REGULATION
6/30/2022