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Comment by brian-armstrong | Hacker News Reader

Yikes, that sounds terrible. Hopefully the US can set legislation for this kind of thing. Having people get locked out of their crypto is no good.

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It's interesting you didn't address his two points:

- Coinbase not having records of your trades (although it's operating from a highly regulated jurisdiction)

- Coinbase not communicating why/how accounts are locked.

> Having people get locked out of their crypto is no good.

Funny thing is that crypto (Bitcoin) was made so that people could hold their own monies instead of relying on a third-party.

> - Coinbase not having records of your trades (although it's operating from a highly regulated jurisdiction)

This isn't accurate for active accounts, at least. I use the REST API to pull down my trading history, and it has all of it going back to 2013.

> Hopefully the US can set legislation for this kind of thing.

Surely you can see the irony in that?

To be fair, I was able to withdraw my funds - when your account gets closed you get told to withdraw everything immediately and go away.

How much advance notice were you given? What happens if you didnt check your email in time?

In my case I withdrew my funds the day I saw the notice as I wasn't going to wait to find out. To your point, withdrawl of funds where Coinbase is acting as a custodian is something I believe they have to honor due to being a MSB.

My account was shut down for no apparent reason, but I was allowed to supply a "transfer out" address for my wallet.

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