Coinbase promises to use consumer data, specifically for the purpose of user identity verification and protection, service delivery, product improvement, as well as keeping users informed of new developments (based on user preference). Coinbase also promises transparency, in terms of how it shares user data with affiliates and partners. Emphasizing the fact that they do not, and will not, sell user data to a third party without a user’s consent.
It may be, that Coinbase is gearing up for a serious expansion push, as the news comes a shortly after the firm was awarded a patent that will see the firm streamline their compliance policing efforts. The new patent, awarded by the United States Patent and Trademark Office, suggests that Coinbase may soon employ an automated framework, purposed to detect non-complaint accounts on their various platforms.
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