Coinbase CEO says unnecessary account limitations has actually decreased by 82%

Brian Armstrong, CEO of Coinbase, said in an X post on Friday that the platform has actually minimized the concern of unneeded account freezes and restrictions by 82% so far. The post Coinbase CEO states unneeded account restrictions has actually minimized by 82% appeared first on CryptoSlate.

Constraints on accounts must be limited to situations that necessitate them, such as legal obligations to adhere to sanctions or court orders, or to safeguard consumers from rip-offs and account compromises, he added. Coinbase users have long complained about account freezes For years, Coinbase was the second-largest crypto exchange by trading volume, 2nd only to Binance, till Bybit bumped it in March 2024. A user responded to Levi’s post on Friday, mentioning that his account has been frozen for a week, after he tried to send $10 worth of crypto to a brand-new account.

Brian Armstrong, CEO of Coinbase, stated in an X post on Friday that the platform has lowered the concern of unnecessary account freezes and limitations by 82% so far. Levi, who is now part of the group working to fix Coinbase’s concern of account limitations, detailed the actions taken by the exchange to resolve the problem. Constraints on accounts need to be restricted to circumstances that necessitate them, such as legal obligations to adhere to sanctions or court orders, or to protect clients from rip-offs and account compromises, he included. Coinbase users have actually long complained about account freezes For years, Coinbase was the second-largest crypto exchange by trading volume, 2nd only to Binance, up until Bybit bumped it in March 2024. A user replied to Levi’s post on Friday, specifying that his account has actually been frozen for a week, after he tried to send $10 worth of crypto to a brand-new account.