🔥 Coinbase in the crosshairs of the CFTC: what happened?
The Commodity Futures Trading Commission (CFTC) has asked Coinbase to provide data on customers who interacted with Polymarket, a decentralized platform for betting on events, including the US election. 🚨 The reason is suspicions of possible violations of the rules.
Polymarket allows users to make predictions on political events through smart contracts. But regulators do not like the lack of control and licenses required for such operations in the United States. 🇺🇸
Now Coinbase finds itself in a difficult situation: protect the privacy of its customers or cooperate with the authorities. 🤔 This again raises questions about the balance between regulations and freedom of the cryptocurrency market.
💭 What do you think? Should centralized platforms share user data? Or does this undermine the principles of decentralization? Write in the comments! 💬