Nasdaq-listed cryptocurrency exchange Coinbase has made some changes to its services for customers in three countries. “This change will only affect users in Canada, Singapore and Japan who are transferring digital assets from their Coinbase Exchange wallets to wallets from the Coinbase Platform.”
Changes Affecting Coinbase Clients in Canada, Japan, Singapore
Nasdaq-listed cryptocurrency exchange Coinbase announced this week:
Starting April 1, 2022, Coinbase will introduce some changes for customers in Canada, Singapore and Japan to comply with local regulations in those countries.
“This change will only affect users in Canada, Singapore and Japan who are moving digital assets from their Coinbase Exchange wallets to wallets from the Coinbase Platform,” the exchange elaborated. “This change will not affect the Coinbase user experience of buying and selling digital assets using Coinbase.”
Coinbase elaborated that customers located in the above three countries who are sending digital assets outside of Coinbase may be required to “provide recipient information and recipient information, depending on the country.”
Different rules apply in each country, the Nasdaq-listed exchange noted. For example, in Canada, only transactions of 1,000 CAD ($780) or more will be affected and the full names and addresses of recipients will be required. For Singapore, all crypto transactions at addresses not controlled by Coinbase will be affected.
What do you think about Coinbase making changes to its services for users in Canada, Japan and Singapore? Let us know in the comments section below.
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