![]() If Coinbase had agreed, that could have set a precedent that would have left the vast majority of the American crypto businesses operating outside the law unless they registered with the commission. And they said, we’re not going to explain it to you, you need to delist every asset other than bitcoin.” “And, we said, well how are you coming to that conclusion, because that’s not our interpretation of the law. we believe every asset other than bitcoin is a security,” Armstrong said. “They came back to us, and they said . . . The SEC’s case identified 13 mostly lightly traded cryptocurrencies on Coinbase’s platform as securities, asserting that by offering them to customers the exchange fell under the regulator’s remit.īut the prior request for Coinbase to delist every one of the more than 200 tokens it offers - with the exception of flagship token bitcoin - indicates that the SEC, under chair Gary Gensler, has pushed for wider authority over the crypto industry. yadah yadah ya know already.The US Securities and Exchange Commission asked Coinbase to halt trading in all cryptocurrencies other than bitcoin prior to suing the exchange, in a sign of the agency’s intent to assert regulatory authority over a broader slice of the market.Ĭoinbase chief executive Brian Armstrong told the Financial Times that the SEC made the recommendation before launching legal action against the Nasdaq-listed company last month for failing to register as a broker. Not just their non-existent customer support but server and app systems shutdowns, unexplained account blocks, restricted sales or buys, missing funds, delayed funds. The customers get scammed because CB uses ONLY and the same exact methods as scammers !Įveryone should be more careful but honestly I think a major part of “risky crypto” at this stage speaks also to the exchanges themselves. AND add to that often any response from them can come with an ungodly delay period so poor guy here “feels he finally gets someone’s attention” and pours all his energy and frantically follows “instructions” to resolve the panic. That Coinbase makes emails and sms or fn REDDIT “their normal and ONLY available interaction” with their customers is the weak link here. like the rest of the finance and banking services industry provides. As in, clients/customers don’t have an OPTION ever of just calling in and ask what’s up. Scammers are scum no doubt but this hits at the BIG problem with Coinbase being a “remote only” company with e-based customer support ONLY. How hard would it be to add a secure chat / message service to the website and staff it 24x7 with a small competent staff? It's the vast and shocking lack of any level of customer support that enables this constant thievery. But they don't unlock the doors or go inside. There you are still standing in front of the main branch looking around in a daze, when someone else in a similar looking uniform walks up and promises they really work for the bank. They promise to be right back, Boom, they are gone and when you check your balance, so is ALL your money. "Yes" relieved, you give them your account details / follow their relatively innocent sounding instruction. An official-looking person in an employee uniform walks up and asks brightly, "may I help you?" There's no telephone support so you go to the main branch in the center of town but it's also locked. You go to look for help, but the branch doors are locked. ![]() It's more like you're at the ATM and it malfunctions. No one should need to open a Reddit account to get a response. ![]() I promise you there’s going to be a mass withdrawal of funds from customers if you keep on shrugging shoulders. ![]() Spend the money & get live customer service. Why doesn’t Coinbase want to save my money just as much? Coinbase is going to drive their business off a cliff all because they want to save money. All because they had to seek you out rather than customer service being a standard. Now they really are scammed out of money. ![]() As they wait, a fucking scammer with Coinbase in their name, sends you a message saying they can help and to click the link. They might even make a Reddit account to get into this sub and hope for help. When a person loses 60k and is desperately trying to figure it out, or if they are missing 150.00, that person is going to try anything to talk to a representative. We wouldn’t be clicking links if there was a phone number with live customer service.Īlso, they should know that money is an important part of life. ![]()
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