Cryptocurrency exchange Coinbase published a statement addressing their U.K. and E.U. customers, apologizing for system outages and account restrictions. The company also recognized their customer support “has not been at the levels” expected.
High Flow of Incoming Customers
According to the public apology, the U.S.-based crypto company said customers from both regions have been facing transaction restrictions. However, Coinbase didn’t make a direct mea culpa for its global issues, that occured precisely when volatility and velocity increased in the crypto markets.
Coinbase blamed the recent “sustained market rally that has brought a significant number of new customers” onto the platform.
Moreover, Coinbase claims that the regulatory environment is not helpful in this situation:
Evolving regulatory requirements mean that we have to collect additional information from some of our customers, which has meant temporary restrictions being placed on their accounts as we request that…