If you’re a Coinbase user, you may have noticed recent emails from the company regarding changes to its privacy policy. The new policy will go into effect on May 25, and it includes some important changes that users should be aware of.
In particular, Coinbase is now allowed to share more information about its users with third parties. This includes information like your name, email address, and transaction history.
Coinbase says that it will only share this information with third parties when it’s required by law or when it’s necessary to provide services that you’ve requested.
It is important to be aware that emails from Coinbase could be fraudulent. Do not click on any links or open attachments from emails claiming to be from Coinbase. Additionally, do not enter your Coinbase account information or password into any website that does not have the Coinbase domain name in the URL. If you are unsure about the source of an email claiming to be from Coinbase, contact Coinbase Support for assistance.
So why the change in policy? According to Coinbase, the new policy is necessary in order to comply with new privacy lAWS in the European Union. The General Data Protection Regulation (GDPR) goes into effect on May 25, and it requires companies to get explicit consent from users before sharing their data with third parties.
Coinbase is also introducing a new feature that will allow users to opt out of having their data shared with third parties. If you don’t want your data shared, you can go into your account settings and change your privacy preferences.
The bottom line is that if you’re a Coinbase user, you should be aware of the changes to the company’s privacy policy. You should also take a moment to decide whether or not you want your data shared with third parties.
If you’re not comfortable with the new policy, you can always opt out of having your data shared.