Quote from: harizen on October 22, 2019, 07:04:45 PM

Quote from: 1R1S on October 22, 2019, 01:59:41 PM

I found in privacy policy of one particular exchange that it transfers data about me to credit organizations. Actually the same is true for banks.
In what cases do they do this thing? If I make big enough trade volume at exchange, say $50,000 for year, is this information transferred as well? I suppose it happens only if you do margin trading or something... don't know much about it, except that you take loans from brokers...
Yeah I realize $50k is not big for you

Since those exchanges are centralized and regulated, expect that they shared the same laws, terms, policies, regulations, etc. or something along those lines, just the same with the banks. However, that data should just be transferred nor checked if a certain individual hit the "alarm" or a certain tier or activity. That line of a statement in the Privacy Policy should have supporting details of all the information and not just it will state that it transfers data to a) b) c) for a much clearer view to all users.

This is one big problem with many platforms (both regulated and unregulated) which are doing business in the cryptocurrency industry. These are centralized organizations and they always have the desire to make the most money even to the point of selling/sharing their data to other parties who can be interested with the information s part of their monetization options. I think there are now laws which limit sharing of data to other entities especially without the consent of the users...that is why it is always important to take a look at the Terms of Service (TOS) of any sites...the only problem is that it can be a big monotony reading those long statements and we usually just skip and click AGREE. Maybe there should be a site that is making a summary of the salient points of the TOS of different cryptocurrency exchanges so we can be informed and warned.