On Tuesday, Coinbase gave a rare apology to UK and EU clients. The major crypto exchange stated in a blog post that the customers have been facing weeks of trading restrictions and system outages. The exchange blamed the issues on months of hefty customer trading activity from returning accounts and newcomers.
“Evolving regulatory requirements” is also a contributing factor to Coinbase placing short-term restrictions on accounts that it needed to collect more information on. Coinbase declined to give ground on its regulatory obligations in the post but stated it “can do a better job in communicating” those issues to clients.
The firm said it creating more efficient information collection procedures to help solve regulatory lockouts. Coinbase did not talk about or apologize for its worldwide challenge in keeping all processes running seamlessly through heavy trading days.
Source: https://www.coindesk.com/coinbase-apologizes-to-uk-and-eu-customers-hit-by-regulatory-lockouts