Germany’s Largest Bitcoin Exchange Hands Over Customer Data Voluntarily

[CryptosapienZA]

https://news.bitcoin.com/germanys-largest-bitcoin-exchange-hands-over-customer-data-voluntarily/?utm_source=news.bitcoin.com&utm_medium=widget&utm_campaign=News%20Widget

According to regional reports, Germany’s largest bitcoin exchange Bitcoin.de has been giving customer data to investigators without a warrant.

Germany's Largest Bitcoin Exchange Hands Over Customer Data VoluntarilyThe biggest bitcoin marketplace in Germany, Bitcoin.de, has been giving customer data to German police voluntarily. According to the country’s regional Motherboard publication, investigators in the region have been dedicating energy towards taking down darknet markets. The report details it is “easy for police to access user data” from the Bitcoin.de exchange.

Data given to police includes bitcoin addresses, names, associated emails, locations, account summaries, IP addresses, and login history. One customer, Stephan Jansen from Southern Germany is not pleased with Bitcoin.de’s voluntary disclosure.

“I am speechless,” explains Jansen. “I thought this is a serious company and that my data is safe there.”   

Bitcoin.de tells the publication that its “legal reporting obligation” is justified. According to the report, the company emphasized it has had a “trustworthy cooperation with different authorities.” The data collection follows a series of darknet market investigations in Germany and global law enforcement. A professor and data protection officer from Hamburg, Johannes Caspar, says Germany’s Money Laundering Act (AMLA) says there is no legal obligation to give data to police. According to Caspar data collection like that can only be requested by the courts and the prosecutor’s office.

[BitcoinHodler]

i don't see why this is news worthy and reported like this!
when you sign up on exchanges and most services regarding bitcoin (or most other moneyz) they have a clause in their terms that you also agree saying something like this:
"if asked we will cooperate with authorities and give them your information that we saved".

[Bitforking]

i don't see why this is news worthy and reported like this!
when you sign up on exchanges and most services regarding bitcoin (or most other moneyz) they have a clause in their terms that you also agree saying something like this:
"if asked we will cooperate with authorities and give them your information that we saved".

so bitcoin not only support privacy but also support nudity

[BitcoinHodler]

i don't see why this is news worthy and reported like this!
when you sign up on exchanges and most services regarding bitcoin (or most other moneyz) they have a clause in their terms that you also agree saying something like this:
"if asked we will cooperate with authorities and give them your information that we saved".

so bitcoin not only support privacy but also support nudity

i am not sure what you exactly mean but a centralized third party service working with fiat and according to fiat rules (an exchange here) does not represent what bitcoin support and doesn't support!

[CryptosapienZA]

i don't see why this is news worthy and reported like this!
when you sign up on exchanges and most services regarding bitcoin (or most other moneyz) they have a clause in their terms that you also agree saying something like this:
"if asked we will cooperate with authorities and give them your information that we saved".

It is news worthy because it serves as a reminder to all who use these exchanges that when it comes to exchanges, nothing is private.

[Jet Cash]

Maybe this will encourage people to use full nodes. A pruned node doesn't put much of an overhead on your computer, and it helps the Bitcoin network.

[Palmerson]

Do these services require personal information, but they promise that they will not be transfer to anyone your data without your consent. From my point of view it is a violation of the rules, but perhaps this is due to the fact that Germany is somehow legalized bitcoin. That is why I am against legalization.

[pinoycash]

Most of Exchange Services that has KYC policy are required to report to government and Customer Privacy is not guaranteed. all this in exchange for quality services from exchanges for Bitcoin Trading to USD.

[aTriz]

Not sure why this is such important news. When people sign up on exchanges for example polenix, you have to agree to some terms. Usually no one ever reads the terms and conditions since it seems useless.

If you did the terms and conditions, there should be a line that says more or less, "we will work with the authorities if they ask for information".

No much of a problem, should really affect them. You should quote that since forum doesn't like copying.

[Doms]

That is to be expected of exchanges since they can be held liable if they don't disclose such information to the government, in case something fishy happens. That is why they are doing steps in the verification of accounts by asking for valid IDs, photos and other personal information. But I wouldn't get too worried if I am not doing anything illegal just as long as they don't also violate the terms and agreements they laid out.

[LeGaulois]

Yes it's true there is no legal obligation to give data to police as it can only be requested by the courts. But it doesn't mean there is no legal obligation to not give data. In the company point of view (Bitcoin.de) It may be better to cooperate before this got escalated, and it can be done quickly. It's like to keep low profile before something happens, like a bad reputation for exemple. Sometime the fight can be lost before it starts