Coinbase Apologizes to UK and EU Customers Hit by Regulatory Lockouts

13 January 2021

Coinbase issued a rare apology Tuesday to UK and EU customers who the major cryptocurrency exchange said in a blog post have been affected by weeks of systems outages and trading restrictions.

  • Coinbase blamed the problems on months of heavy customer trading activity from platform newcomers and returning accounts.
  • "Evolving regulatory requirements" also led to Coinbase placing temporary restrictions on accounts for which it needed to collect more information.
  • Coinbase in the post refused to give ground on its regulatory obligations but said it "can do a better job in communicating" those burdens to customers.
  • The company said it is streamlining its information collection procedures to help salve regulatory lockouts.
  • Coinbase did not address, nor apologize for, its global troubles in keeping all operations running smoothly through heavy trading days.
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