Coinbase Apologizes to UK and EU Customers After Recent Accounts Restrictions
Customers in these regions faced restrictions on some functions in the past week.
Over the past few days, some Coinbase customers in the United Kingdom and the EU could not access their accounts or faced restrictions on the exchange's functions. In a post on Medium, Coinbase apologized to its customers for the recent customer service fails, with a promise to give priority solutions to customers affected by the outages in recent weeks.
According to the post, most of the customer service team's complaints have not been solved due to two main reasons – the significant increase in new customers on the platform as the crypto market boomed and evolving regulatory requirements that the exchange faces.
The new regulatory requirements across the EU and UK mean that the exchange will need to collect more information from their customers before removing the restrictions. The exchange is developing a faster and easier way for users to provide the needed information easily.
“We cannot compromise on our regulatory obligations, as Coinbase is committed to the highest standards of compliance.”
“But we can do a better job of communicating requirements like this to our customers.”
Coinbase is also looking at other solutions to improve customer experience on their platform, including prioritizing the pending customer information requests, improved customer flow on mobile, and re-enabled a feature that allows UK customers to convert crypto into fiat currency directly.
The exchange is also working on providing a faster way for customers to recover their accounts after lock-outs.