Exchange regulations around the world affect not only the cryptocurrency firms but their customers by extension. One of the biggest examples of policy affecting a mass number of crypto users is the recent incident was LocalBitcoin accounts being shuts down in mass without much warning and this went on to cause some level of confusion within the industry. Naturally, because crypto exchanges are so important to the industry, any policy that affects user accounts is usually reported on rather quickly.
One of the latest of these is Coinbase as according to recent reports, some users are not being allowed to withdraw more than $10 each day in cryptocurrency.
Limit on Accounts
According to a recent post on Reddit by a user who is self-described as a Coinbase customer, a limit on his account had been placed for $10 in withdrawals each day. The user who goes by the name unholy_crab1, showed a screenshot that apparently shows Coinbase management denying his request for an increase in his daily account withdrawal limit.
Since the story went live on Reddit, they have been a number of comments in which users have expressed some level of skepticism over this. Some state that Coinbase would only do this if crypto prices had reached an all-time high while some said that this would be a scam amount to enforce as a limit on an account. The management of Coinbase has not yet responded to the story but it is rather interesting as it is one of the biggest crypto exchanges in existence and such a limit being placed on accounts by the management of the exchange could affect a lot of people.
Between this incident with Coinbase and the ongoing issues with LocalBitcoins that might not have been completely resolved, it seems crypto users are facing some level of difficulty in withdrawing their tokens from crypto exchanges across the board. Only time will tell how soon these issues will be resolved.