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How do those US KYC laws interact with EU's GDPR?
by jstx1 4y ago
How do those US KYC laws interact with EU's GDPR?
- mike_d 4y agoFor a US based company? American laws win every time.
- deleted 4y ago[deleted]
- jstx1 4y agoNot how it works at all - they're serving EU customers which is what matters to GDPR. Apparently the two aren't in conflict like some other comments pointed out, but it has nothing to do with Coinbase being an American company.
- ronsor 4y agoGDPR has exceptions for mandatory retention due to financial regulations
- mytailorisrich 4y agoGDPR only say not to collect more data than needed and then not to keep them longer than needed. If you have a legal obligation to collect specific data and to keep them for a specific duration the GDPR are fine with that. There are similar KYC regulations and data retention laws in Europe.
- voxic11 4y agoThe GDPR right to erasure doesn't apply when there is a legal obligation to keep the data. > The General Data Protection Regulation (GDPR) gives individuals the right to ask for their data to be deleted and organisations do have an obligation to do so, except in the following cases: ... > there is a legal obligation to keep that data; https://commission.europa.eu/law/law-topic/data-protection/reform/rules-business-and-organisations/dealing-citizens/do-we-always-have-delete-personal-data-if-person-asks_en https://commission.europa.eu/law/law-topic/data-protection/r...