Former Coinbase employee calls the way the authorities confiscate cryptocurrencies

According to Balaji Srinivasan, Apple, Microsoft and Google will help them

19.06.2023 - 07:15

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2 min

What’s new? Balaji Srinivasan, a former senior executive at the US exchange Coinbase, said that if the G7 countries allow cryptocurrencies to be seized, technology giants such as Apple, Microsoft, and Google will help them do so. On the Impact Theory podcast, he explained that the G7 could approve the seizure of digital assets in an effort to recover from the economic turmoil, and corporations could scan devices to find and hand over private keys to the authorities if they were ever ordered to do so.

Srinivasan’s interview

What else did Srinivasan state? The biggest risk factor for corporations facilitating governments is that the former have access to operating systems. Srinivasan’s biggest concern is that “Apple has software updates and Google can get into your Google Drive and Microsoft has Windows, and if ordered by the state, in theory, they could scan your hard drive for private keys and then pull your digital assets.”

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In May, the G7 nations called for increased oversight of individuals’ crypto transactions to comply with anti-money laundering (AML) and combating the financing of terrorism (CFT) requirements.

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