As a regulated financial service company operating in numerous regions, we're periodically required to identify users on our platform. Identity verification ensures we remain in compliance with Know Your Client (KYC)/Anti-Money Laundering (AML) laws in the jurisdictions in which we operate, so we can continue to offer digital currency exchange services to our customers.
Per the Coinbase User Agreement, we require all customers to verify their identity in order to use our service, only collecting necessary information. We may also collect your data to enable certain services, improve our products, and keep you notified of new developments (based on your preferences). We do not, and will not, sell your data to third parties without your consent.
We also occasionally review specific accounts and ask for more detailed personal information about the owners of those accounts. We do this to meet our regulatory obligations. Sometimes, and for a very small percentage of our customer base, we need much more detailed information. This helps us to comply with “Know Your Customer” regulations and keeps Coinbase and the cryptoeconomy safe. No matter what, we are committed to protecting our customers’ privacy and providing a smooth and intuitive customer experience.
We collect necessary information to allow our customers to use our products and services. This primarily includes data collection that is mandated by law—such as when we must comply with anti-money laundering laws, or to verify your identity and protect you from potential fraudulent activity. We may also collect your data to enable certain services, improve our products, and keep you notified of new developments (based on your preferences). We do not, and will not, sell your data to third parties without your consent.
Read more about Data Privacy at Coinbase.