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Comment by mbesto | Hacker News Reader

But....did you use your Coinbase account to conduct any illegal transactions? You didn't answer a very straight forward question.

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No, I didn't conduct any illegal transactions. I thought that would be obvious from my second comment. Somehow you believe I would waste my time complaining about Coinbase yet be at clear and obvious fault?

> I have provided them with more than enough information to prove all of my income is legitimate

That seems like a roundabout way of saying, "No, I did not conduct any illegal transactions".

You can buy drugs with legitimate income. The fact he didn't directly say no the first or second time says the answer is probably yes.

That's a dumb, deliberate misreading of my comment and a ridiculous jump to conclusions. I have done nothing illegal.

I said clearly that I made _one_ transaction (a wire transfer) and I said clearly that they questioned me on my income. Their concern is "where did you get your money" to which I answered them thoroughly.

I had no idea that KYC now has such onerous proof of income requirements. It's mind boggling.

No. It actually seems like a concise way of explaining how coinbase has been deficient in the commenter's experience.

That the transactions were believed to be legitimate was strongly implied in the same sentence, which just required a little deduction on your part.

Does it matter? In what world is Coinbase a judge, jury and executioner who can determine if a Bitcoin transaction is 'legal' or 'illegal' with absolute certainty?

The law absolutely requires them to stop doing business with - and report on - people who they have good reason to believe fall into money laundering, terrorist financing and other KYC financial crimes categories. Their safest - and cheapest - way to comply is use rather shallow and heavily automated systems to score their customers and react accordingly.

So we shouldn't judge a company for picking their own safety and cheapness over providing timely competent support to their customers?

I don't get the point of your comment.

What is an illegal transaction?

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