Starting on April 4th, Coinbase will begin requiring users in Canada, Japan, and Singapore to provide the name and address of any recipients of greater than 1000 CAD in Canada, and it seems for any amount in Singapore and Japan. In an email to a Canadian user today, the statement from Coinbase read:
"Dear customer...Coinbase will introduce some changes required by Canandian regulations. Specifically, when you send crypto to another financial entity or money services business (such as another cryptocurrency exchange), and the transaction is 1000 CAD or more, we are legally required to ask you for information about the recipient of that transaction - their name and address"
Every day there are more and more signals urging users to take their keys off of centralized services. The irony of increased government regulation will be a surge in self custody, non kyc transactions, and privacy practices. Educate yourself on how to protect your wealth from government over reach.
The White House Is Asking For Public Comments on "Crypto" Energy Implications
In a document published by the Federal Register on Friday, The White House is looking into the "potential for digital assets to impede or advance efforts to tackle climate change and the transition to a clean and reliable electricity grid.” With recent reports of Exxon expanding its experimental program of using flared natural gas to mine bitcoin in North Dakota, and case reports of Bitcoin mining stabilizing Texas' ERCOT energy grid this research could be promising. The White House is looking for public comments in their research and they can be submitted here by May 9th. It remains to be seen, but this seems like an initial good faith effort.