Quote from: o_e_l_e_o on June 16, 2023, 08:01:17 AM

Quote from: Synchronice on June 15, 2023, 02:33:27 PM

When you create a company like Coinbase, can you legally include everything the way you want in Terms of Service? I mean, if I create a company in the USA and write in its ToS that by clicking on Agree, this user confirms that she will be my slave and do whatever I ask her to do? Can I legally write that?

You can write it, but it will be unenforceable because it is illegal. However, there is no law saying centralized exchanges cannot freeze accounts or confiscate coins, and indeed this behavior is often supported or even required by various governments.

By the way, isn't it illegal to take away someone's money without his permission? That's their ToS, actually. Legally, there should be a confirmation from both sides to keep money but Coinbase says that they can keep it without your permission with no further explanation.
I sometimes think about this and can't understand, why do governments push exchanges or any other services to gain KYC documents of their customers. Isn't it a national threat for governments that random exchanges collect KYC documents of their citizens? Especially when there are so many KYC data leak accidents.