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0 pointslacker7y ago0 comments

At least according to this document, when your USDC account is blacklisted you may no longer send or receive tokens from it. With Bitcoin, even if Coinbase blacklists you, you can still send your Bitcoin to other accounts and exchange it for things. I'm sure it's a huge pain but your Bitcoin will not just be lost forever.

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hudon7y ago

> With Bitcoin, even if Coinbase blacklists you, you can still send your Bitcoin to other accounts and exchange it for things

This is not so. Coinbase and Gemini (I haven't checked others but I'm sure they're the same) will freeze your assets entirely if required by law or if you violate the user agreements in some flagrant way [0] [1].

[0] https://support.coinbase.com/customer/en/portal/articles/190...

[1] https://gemini.com/user-agreement/#account-closure

mitchdoogle7y ago

I think they mean if you are using your own wallet to store your bitcoin, then coinbase and gemini have no control over what you do with it, except not using their own services

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atomical7y ago

That's not actually true. If you attempt to send a transaction from Coinbase to an address they have blacklisted they will immediately suspend your account. You will be allowed to withdraw your funds before the account is closed.

nybble417y ago

How effective do you suppose that is, when best practice for some time has been to use a new receiving address for every transaction?

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