Coinbase announced that customers in Canada, Japan and Singapore who wish to send cryptocurrency to other financial institutions or exchanges are required to provide their names, addresses, and, in the case of Japan, The recipient’s wallet must be specified.
Coinbase has sent a notification to customers in those countries that the changes will take effect in early April. to comply with local travel rules in those places
thisdoesn’t seem very goodwith Coinbase clients in those countries which prioritizes the anonymity of transactions using cryptocurrencies.
Coinbase stated in the section FAQ that for Canadian users If sending more than 1000 Canadian dollars (798) cryptocurrencies to a financial authority or other crypto exchanges, the recipient’s name and address must be included. This will be effective April 4, Coinbase said.FINTRAC RULES of Canada is the reason for this change.
For Singapore users, all crypto transfers from Coinbase users’ exchange wallets to external addresses. The recipient’s full name and country of residence must be indicated. This will take effect on April 1, Coinbase cited local regulations of cryptocurrency.Singapore
And in Japan, all crypto asset transfers to recipients outside of Japan must include recipient name, address, and destination wallet, accordingly.Rules set by Japan Cryptocurrency Trading Association (JVCEA) ), which will take effect on April 1
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