Coinbase files patent for its automatic KYC enforcer

According to CoinDesk today, crypto exchange Coinbase has applied for a patent for its automatic KYC enforcer, which can close non-compliant accounts. According to the patent description issued by the US Patent and Trademark Office, the patent contains an automatic system and corresponding scoring mechanism. These systems work together to cancel non-compliant accounts, especially user accounts that are suspected of illegal transactions. If the transaction value exceeds $ 2,000, bad transactions will be suspended and submitted to law enforcement.