The court equated Coinbase with a traditional bank in the interests of disclosing information about the culprit FBI agents who requested data on the transactions of one of the clients from the Coinbase cryptocurrency exchange did not violate his rights in accordance with the Fourth Amendment to the US Constitution, the court ruled. This decision was the basis for the denial of appeal to Richard Gratkowski, who was convicted of receiving pornography involving minors and was sentenced to 5 years and 10 months in prison.

The court equated Coinbase with a traditional bank in the interests of disclosing information about the culprit

FBI agents who requested cryptocurrency exchanges Coinbase data on transactions of one of the clients did not violate his rights under the Fourth Amendment to the US Constitution, the court ruled. This decision formed the basis for the denial of appeal to Richard Gratkowski, who was convicted of receiving pornography involving minors and was sentenced to 5 years and 10 months in prison..

The court referred to a 1939 Supreme Court decision that banking information was not protected by the Fourth Amendment.

“Coinbase is financial institution, a virtual currency exchange that provides bitcoin users with a method to transfer bitcoin. The main difference between Coinbase and a traditional bank is that Coinbase works with virtual currency, while traditional banks - with material currency, ”the decree says..

As FBI agents found out, Gratkowski used bitcoin to buy prohibited content from June 2016 to May. 2017 year. They established which wallets were used to send bitcoins, and then demanded that Coinbase disclose information about the client associated with these transactions. As a result of the search, a hard drive with materials of interest to the investigation was found..

Gratkowski tried to challenge the charge, arguing that Bitcoin transactions should be subject to the same protections as cell phone location data. However, the court decided, what bitcoin-transactions do not constitute "an integral part of everyday life" and do not provide a "look at the innermost life of a person".

Separately, the judges highlighted the public nature of the bitcoin blockchain: "The nature of information in the bitcoin blockchain and the voluntary procedure for its disclosure go against the idea of ​​detecting privacy interests in user information on the bitcoin blockchain".

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