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Some of the quotes in the article try to blame some of the harm from Coinbase's data breach on "know your customer" regulations. It's such self-serving nonsense

Some of the quotes in the article try to blame some of the harm from Coinbase's data breach on "know your customer" regulations. It's such self-serving nonsense. Society is within its rights to demand that financial institutions both (1) protect their customers' sensitive personal information and (2) fight money laundering, which AFAIK is impractical without KYC rules at institutions like Coinbase that connect crypto to the traditional monetary system.

m463 1y ago
It could also be that KYC is an immature rule that says "the data must be collected". Maybe a more nuanced future KYC rule might need to both collect and protect customer data.
- rlnvlc 1y ago
  That's already the case, but greedy execs love cutting corners.