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posted by martyb on Monday April 23 2018, @01:40PM   Printer-friendly
from the eggs-and-baskets dept.

This hasn't been the best week for WikiLeaks, to put it mildly. Coinbase has shut off the WikiLeaks Shop's account for allegedly violating the cryptocurrency exchange's terms of service. In other words, the leak site just lost its existing means of converting payments like bitcoin into conventional money. While Coinbase didn't give a specific reason (it declines to comment on specific accounts), it pointed to its legal requirement to honor "regulatory compliance mechanisms" under the US' Financial Crimes Enforcement Network.

This doesn't prevent WikiLeaks from accepting cryptocurrency, but it will have to scramble to find an alternative if it wants to continue taking digital money from customers buying shirts and coffee cups. Unsurprisingly, the organization is less than thrilled -- it's calling for a "global blockade" of Coinbase, claiming that the exchange is reacting to a "concealed influence."

Source: https://www.engadget.com/2018/04/21/wikileaks-loses-coinbase-account/


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  • (Score: 3, Insightful) by donkeyhotay on Monday April 23 2018, @05:08PM (2 children)

    by donkeyhotay (2540) on Monday April 23 2018, @05:08PM (#670801)

    This perfectly illustrates the obvious weakness of digital currency. Libertarians, et al, argue that digital currency is wonderful because it is not controlled by the government. But the government can still force or coerce trading companies, isp's, and other organizations involved to effectively cut you off from your digital currency. You might have a bazillion bitcoins, but if you aren't allowed access to them, you're effectively broke.

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  • (Score: 2, Informative) by Anonymous Coward on Monday April 23 2018, @05:55PM (1 child)

    by Anonymous Coward on Monday April 23 2018, @05:55PM (#670817)

    Also, it's even easier for governments to counterfeit money (and therefore tax without representation, the cause of the American Revolutionary War).

    So, I don't know what you point could possibly be.

    • (Score: 3, Insightful) by JoeMerchant on Tuesday April 24 2018, @12:03AM

      by JoeMerchant (3937) on Tuesday April 24 2018, @12:03AM (#670945)

      Not just counterfeit but also seize when they don't like something you've done.

      They don't usually bother with small fish, but it's always a possibility that you lose effective title to everything you own, especially including your liquid and credit accounts, due to a law enforcement agency's claim (trial by peers not required) that you've done something "bad." See your lawyer to find out if you will have anything left after he's done fighting to get it released.

      --
      🌻🌻 [google.com]