I just confirmed what seems to be a legitimate email. Coinbase is requiring all my info - including social security number, or the account with all my funds will be suspended. Note that other exchanges do not require this.<p>This was not accordingly to the Terms I agreed upon when signed up with Coinbase. I felt cheated! The whole mission of Coinbase was to make the world smaller because of anonymous and unregulated ways the cryptocurrencies thrive. Now moving forward when Brian (the owner, who changed his mission many times from charging zero fees to charging over 5% per transaction) is requiring all this info or I lose my money.<p>This is scam and clear case of providing dishonest services.
Crypto is a taxable asset. Trading crypto is a taxable event. Anytime you create a taxable event information is supposed to be collected and sent to the IRS. If you win a car from a contest or money from hitting a jackpot at a casino that is also the case. Crypto isn't some magical thing that is above the law.
Coinbase survey asks: how much crypto do you expect to trade per year - then goes to say "Coinbase is legally required to collect this information" - can someone point me to legislation or a law where US Citizen is require to tell anyone how much crypto they are going to trade? Also I am unable to answer this question honestly, because I don't know...