Coinbase Complied to New York’s Attorney General Ongoing Inquiry
New York’s Attorney General (AG) Eric Schneiderman asked a number of cryptocurrency exchanges to turn over corporate data last month. While some exchanges like Kraken refused, Coinbase has agreed to the request.
The company said in its response:
“We have established a cybersecurity program and related policies and training, conduct periodic penetration testing and vulnerability assessments, and undertake security risk assessments among myriad other operational and technical safeguards. We operate an active bug bounty program to pay third-party developers for vulnerability tips. We will continue to invest aggressively in industry-leading technology and practices to secure customers’ data and virtual currency assets, even as our investment and commitment to security go far beyond what the law requires.”
Moreover, within their responses, Coinbase pay heavy focus on how they staff the exchange, stating that they are constantly expanding their engineering team, the branch of Coinbase who are responsible for ensuring that all systems remain secure and of course, up to date.
The representatives of Attorney General’s office will review the responses from all the exchange platforms and compare with other platforms. Further, they will communicate certain relevant information with the public based on their assessment. Another San Francisco based trading platform Kraken stated that it has no plans to follow the DA’s orders as they find such a request “insulting” and below the dignity of DA’s office.
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