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Nasdaq-listed cryptocurrency exchange Coinbase announced it has made some changes to its services in three countries, thereby complying with local regulations. It said:
“Starting on April 1, 2022, Coinbase will introduce a few changes for customers in Canada, Singapore, and Japan to comply with local regulations in those countries.”
The company detailed:
“This change will only impact users in Canada, Singapore, and Japan who are transferring digital assets from their Coinbase exchange wallet to a wallet off the Coinbase platform.
This change will not affect a user’s Coinbase experience of buying and selling digital assets using Coinbase.”
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Coinbase added that customers located in the three countries who are moving their assets off the exchange “may need to provide information about the type of wallet you’re sending assets to and information about the recipient, depending on the country.”
Each country has different rules. For example, in Singapore, all transactions to non-Coinbase addresses will require recipients full name and addresses, while in Canada the changes will only apply to transactions of $1,000 CAD or more.