Not so long ago we wrote about the requirements for cryptocurrency exchanges, launched by the General Prosecutor of new York Eric Sneiderman. The regulator ordered the platform to answer questions from an extensive questionnaire aimed at obtaining information from exchanges about the legitimacy of their activities.
It is assumed that the questionnaire signaled the beginning of further investigations by new York authorities, began in the light of recent international hacking attacks.
In total to fill in the questionnaire ordered 13 of cryptocurrency exchanges.
Coinbase, answering questions, focused on the advanced security settings:
“We have created a program of cyber security, has established policies and trainings, conduct periodic testing and evaluate the vulnerabilities, and provide risk assessment, security, among many other operational and technical safeguards. We have launched a Bounty program to pay for third-party developers reward you for vulnerability. We will continue to invest heavily in advanced technology and practices to protect customer data and assets of the virtual currency, even if our investment and commitment to safety goes far beyond the law.”
Moreover, in their responses Coinbase pays great attention to the maintenance of the exchange, stating that they are constantly expanding their engineering team, which is responsible for security and, of course, the relevance of all systems.
The willingness of the exchanges to work together with authorities and regulatory bodies to ensure the protection of their clients, hotly discussed in the cryptocurrency community.
According to most Americans, the reaction Coinbase was very professional, and exactly the answer I wanted to hear Schneiderman. It is expected that the remaining 13 of the cryptocurrency exchanges that received the questionnaire, will meet the regulators.
In any case, the community wants to believe that the exchange remains fair and transparent, so the responses to the questionnaire of the public Prosecutor should not cause too much damage.
It is unknown whether the ongoing mass regulation in the United States, but until the motives of the new York attorney General will not become clear cryptomelane exchange have the right to worry about what will happen next. Only time will tell.