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Someone please correct me if I'm wrong, but at least in the US banks take on all risk of fraud. If someone starts writing bad checks in your name, that's ultim
by galimaufry 7y ago
Someone please correct me if I'm wrong, but at least in the US banks take on all risk of fraud. If someone starts writing bad checks in your name, that's ultimately the bank's problem rather than yours.
- apo 7y agoCoinbase is not a bank. It acts like one. It spies on its customers on behalf of federal regulators like one. But it most definitely is not a bank. The author has to eat the loss, as per the user agreement.