The company has said that it has also shared these addresses with the US government. In his post, he reiterated that he was committed to adhering to the restrictions. Coinbase’s Chief Legal Officer, Paul Grewal, said that during the onboarding system, Coinbase scrutinizes account applications of approved individuals or entities, including those from the US, UK, European Union, United Nations, Singapore, Canada and Japan.
In order to open a Coinbase account, individuals and entities need to provide their name and country information, he added. We verify the information provided by an individual before allowing him to transact.
Coinbase runs many programs to lure users. Last month at a Super Bowl he aired an ad in his first major crypto splash. It had a QR code spinning around the screen for 60 seconds. A Coinbase URL was also shown at the end of the ad. The advertisement on the website said that there is a free bitcoin offer of $ 15 (about Rs 1,130) for new customers who sign-up in two days. The landing page of the website received 20 million hits a minute after the launch of this unique ad. The site crashed due to getting such a huge number of hits.
The company has also announced to give one week off to its employees in every quarter this year. Earlier this month Coinbase’s Chief People Officer, LJ Brock, explained in a blog post that almost the entire company will be closed for four weeks this year. This will give an opportunity to the employees to recover after heavy workload. Brock pointed out that there is no limit to 40 hours a week for Coinbase employees.
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