Bitcoin Forum
June 10, 2024, 11:22:08 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Crypto Wallet's and their compliancy with law enforcement  (Read 153 times)
Kakmakr
Legendary
*
Offline Offline

Activity: 3458
Merit: 1960

Leading Crypto Sports Betting & Casino Platform


View Profile
November 21, 2021, 09:59:13 AM
 #21

Coinbase is a US company and they have to adhere to KYC/AML regulations... so you do not even have to think about their actions when they are approached by law enforcement agencies. I think Coinbase will hand over the information..even if they do not get subpoena for it, because they do not want the government to close their doors.  Roll Eyes

The law enforcement agencies will get tipped off about illegal activities and then they will follow the "red tape" to make a legal arrest. (The courts will require that the correct procedures were followed to acquire the evidence)  Roll Eyes

..Stake.com..   ▄████████████████████████████████████▄
   ██ ▄▄▄▄▄▄▄▄▄▄            ▄▄▄▄▄▄▄▄▄▄ ██  ▄████▄
   ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██  ██████
   ██ ██████████ ██      ██ ██████████ ██   ▀██▀
   ██ ██      ██ ██████  ██ ██      ██ ██    ██
   ██ ██████  ██ █████  ███ ██████  ██ ████▄ ██
   ██ █████  ███ ████  ████ █████  ███ ████████
   ██ ████  ████ ██████████ ████  ████ ████▀
   ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
   ██            ▀▀▀▀▀▀▀▀▀▀            ██ 
   ▀█████████▀ ▄████████████▄ ▀█████████▀
  ▄▄▄▄▄▄▄▄▄▄▄▄███  ██  ██  ███▄▄▄▄▄▄▄▄▄▄▄▄
 ██████████████████████████████████████████
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█  ▄▀▄             █▀▀█▀▄▄
█  █▀█             █  ▐  ▐▌
█       ▄██▄       █  ▌  █
█     ▄██████▄     █  ▌ ▐▌
█    ██████████    █ ▐  █
█   ▐██████████▌   █ ▐ ▐▌
█    ▀▀██████▀▀    █ ▌ █
█     ▄▄▄██▄▄▄     █ ▌▐▌
█                  █▐ █
█                  █▐▐▌
█                  █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█
▄▄█████████▄▄
▄██▀▀▀▀█████▀▀▀▀██▄
▄█▀       ▐█▌       ▀█▄
██         ▐█▌         ██
████▄     ▄█████▄     ▄████
████████▄███████████▄████████
███▀    █████████████    ▀███
██       ███████████       ██
▀█▄       █████████       ▄█▀
▀█▄    ▄██▀▀▀▀▀▀▀██▄  ▄▄▄█▀
▀███████         ███████▀
▀█████▄       ▄█████▀
▀▀▀███▄▄▄███▀▀▀
..PLAY NOW..
Haunebu
Hero Member
*****
Offline Offline

Activity: 3080
Merit: 972


www.Crypto.Games: Multiple coins, multiple games


View Profile
November 21, 2021, 10:06:47 AM
 #22

It all basically comes down to how familiar you are with crypto wallets and the convenience factor op. If you don't mind being asked for KYC(Under specific situations), custodial wallets like Coinbase etc are what you're looking for.

On the other hand, if you don't want anyone else apart from you to know about your funds, non-custodial wallets like Exodus etc are what you're looking for. You need to safely store the recovery phrase though since losing it can screw you over.

If you are planning on storing huge amounts, I advise sticking to HW wallets. If not, stick to non-custodial wallets are the next best option.

█████████████████████████
███████▄▄▀▀███▀▀▄▄███████
████████▄███▄████████
█████▄▄█▀▀███▀▀█▄▄█████
████▀▀██▀██████▀██▀▀████
████▄█████████████▄████
███████▀███████▀███████
████▀█████████████▀████
████▄▄██▄████▄██▄▄████
█████▀▀███▀▄████▀▀█████
████████▀███▀████████
███████▀▀▄▄███▄▄▀▀███████
█████████████████████████
.
 CRYPTOGAMES 
.
 Catch the winning spirit! 
█▄░▀███▌░▄
███▄░▀█░▐██▄
▀▀▀▀▀░░░▀▀▀▀▀
████▌░▐█████▀
████░░█████
███▌░▐███▀
███░░███
██▌░▐█▀
PROGRESSIVE
      JACKPOT      
██░░▄▄
▀▀░░████▄
▄▄▄▄██▀░░▄▄
░░░▀▀█░░▀██▄
███▄░░▀▄░█▀▀
█████░░█░░▄▄█
█████░░██████
█████░░█░░▀▀█
LOW HOUSE
         EDGE         
██▄
███░░░░░░░▄▄
█▀░░░░░░░████
█▄░░░░░░░░█▀
██▄░░░░░░▄█
███▄▄░░▄██▌
██████████
█████████▌
PREMIUM VIP
 MEMBERSHIP 
DICE   ROULETTE   BLACKJACK   KENO   MINESWEEPER   VIDEO POKER   PLINKO   SLOT   LOTTERY
doomloop
Hero Member
*****
Offline Offline

Activity: 2310
Merit: 581



View Profile
November 21, 2021, 04:32:21 PM
 #23

If a law enforcement agency approached a wallet provider such as Coinbase, regarding acquiring information about the account holder, do they comply? I would understand why Coinbase would, but what ones specifically do not? If anyone knows, let me know.
Well, centralized exchanges are still really good. Mostly, all these things are just for security purposes, but sometimes the government are fond of digging in too much. And another reason why a lot of people don’t like centralized exchanges, and giving out information about themselves is because platforms like this can get hacked, and users’ information will be exposed.

As for whether they would give out information about you to government agencies, there’s every possibility that they would. Such information are being gathered for the government, so why wouldn’t they give it out if there should be a request for it? Although this wouldn’t be something that you should be worried about if you are not involved in any kind of shady stuff. But sometimes it’s also good to live a private life, which is why a lot of people would consider a decentralized platform.

Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!