Coinbase and gambling

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  • caramba
    SBR Sharp
    • 05-03-12
    • 371

    #1
    Coinbase and gambling
    I received an email from Coinbase where they ask me about source of funds and want documentation.What are their stance on gambling these days? A Google search shows some examples where they have been anti gambling in the past.Does anyone have recent experience with this?
    (I am not in the US and betting is legal in my country).
  • Shifty
    SBR Wise Guy
    • 08-10-08
    • 558

    #2
    Since you are not in the US avoid the US exchanges, too much regulation here. I use CB for outgoing transfers only. Don't want any trouble. Had a bad experience with a source of funds inquiry at another US exchange. Had to send a copy of my tax return to get my account unlocked.
    Comment
    • Optional
      Administrator
      • 06-10-10
      • 60707

      #3
      Best to check the terms for your country, but I would think they ban gambling use everywhere.
      .
      Comment
      • caramba
        SBR Sharp
        • 05-03-12
        • 371

        #4
        Originally posted by Shifty
        Since you are not in the US avoid the US exchanges, too much regulation here. I use CB for outgoing transfers only. Don't want any trouble. Had a bad experience with a source of funds inquiry at another US exchange. Had to send a copy of my tax return to get my account unlocked.
        Thanks. Coinbase is the only exchange I have found so far that my bank accepts transactions to and from, so that's why I went with them, but looks like I will have to find another option now.
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        • caramba
          SBR Sharp
          • 05-03-12
          • 371

          #5
          Originally posted by Optional
          Best to check the terms for your country, but I would think they ban gambling use everywhere.
          Applies to my country too.

          Do they confiscate funds or just close accounts but let you withdraw your funds/coins? I've seen a few reports saying the former, but most reports saying the latter.
          Comment
          • capitalist pig
            SBR MVP
            • 01-25-07
            • 4996

            #6
            They will let you withdraw your funds before banning you
            Comment
            • Optional
              Administrator
              • 06-10-10
              • 60707

              #7
              Originally posted by caramba

              Applies to my country too.

              Do they confiscate funds or just close accounts but let you withdraw your funds/coins? I've seen a few reports saying the former, but most reports saying the latter.
              They just ask you to move your funds out of their wallet. No confiscate.
              .
              Comment
              • jazzmonkey
                SBR High Roller
                • 06-27-08
                • 130

                #8
                I've been very open to Bitstamp about source of funds (betting) and purpose of deposit (betting), they have been fine.
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