Exchanges & BrokersNews

EFF Asks Coinbase To Start Issuing Transparency Reports

The San Francisco-based digital rights advocacy group Electronic Frontier Foundation (EFF) has asked the major digital currency exchange Coinbase to issue transparency reports regarding government or authorities’ requests for user data. EFF said on Wednesday that it should start releasing transparency reports on a daily basis.

EFF Calls on Coinbase for transparency

Calling on the exchange for greater transparency in a blog post that published on September 2, the non-profit digital rights advocacy group said that the United States-based cryptocurrency exchange has to provide details in the transparency reports regarding the government or law enforcement authorities’ requests for information that the major exchange receives and also how these requests are dealt by the company.

Explaining the reason why they have called on the Coinbase exchange for transparency, Hayley Tsukayama a legislative activist said, “EFF has become increasingly concerned that payment processors are being asked to turn over information on their customers, without any mechanism for the public to know who is making those requests, or how often. That’s why we are calling on Coinbase.”

📰 Also read:  A Deep Dive Into Crypto Laws and Regulations in Turkey

Adding more to it, Tsukayama said that transparency reports will play a significant role by giving details regarding the surveillance activities of government or law enforcement authorities. Tsukayama stated:

“In providing the public with data on how often law enforcement seek user data and how often services comply, transparency reports show whether companies are living up to their promises to protect user privacy. They also serve an important secondary role by providing details on government surveillance activities.”

The Electronic Frontier Foundation (EFF) believes that transparency reports will help the Coinbase exchange to be more transparent in handing the governments’ requests. Furthermore, the EFF digital rights advocacy group said that digital currency exchanges really need to understand the significance of privacy.

It seemed that the advocacy group indirectly referred to the Coinbase Analytics software of the exchange which is used by various law enforcement agencies.

On the other hand, the rival cryptocurrency exchange of Coinbase “Kraken” was praised as it has shown a great attitude towards the handling of government requests that it receives.

📰 Also read:  What is Arbitrum? - All You Need to Know About This Ethereum Scaling Solution

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Bitcoin Faces Potential as Analyst Warns of Short-Term Liquidity Squeeze

Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content