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Cryptocurrency companies announce changes to comply with GDPR

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The European Union has approved in 2016 strict legislation focused on protecting user data called GDPR – General Data Protection Regulation. Although it was approved two years ago, the law provided for a transition period for companies to before it was effectively implemented on May 25th.

According to The Guardian, the new European legislation has already impacted many services and news sites such as "New York Daily News", "Chicago Tribune", "Los Angeles Times", "Orlando Sentinel" and " Baltimore Sun ". are offline. To prevent this from happening, cryptocurrency platforms with users in Europe have announced new privacy policies in order to adapt to new rules and avoid fines up to $ 25,000. 39 to 20 million euros or 4% of their annual global business figure.

Xapo, who acts as a wallet, an exchange bureau for the purchase of Bitcoin and also offers a debit card for the conversion of Bitcoin to fiat, has announced that its privacy policy has been updated to meet the requirements of the new legislation. that the protection of personal data is a priority for the company. To do this, detailed information has been added on what users can and can not do with their personal data and how they can exercise their privacy rights under GDPR

"Being transparent and securing your information is very important to us, which is why we are fully committed to making these changes." The updated privacy policy will become effective for Xapo users as of May 25 2018 "indicates the official Xapo declaration sent to all customers.

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Genesis Mining, a cloud exploration service, also announced changes to its privacy policies to ensure compliance with GDPR rules, stating that the changes will not affect how users use their service.

Medium, one of the most widely used blogging platforms by developers, ICO and crypto startups around the world, also announced changes related to the new European law that will be accessible to all users regardless of their geographical location. to clarify what information we collect and how we use it, there are also new resources. For example, you can now download your personal data from the settings page, "said the statement.

The Polybius Foundation also announced changes without specifying what will change in its privacy policies, however, it was pointed out that changes will be made to the "type of personal data we collect about you and how we use the legal details about the processing and storage of your personal data, the information security policies and how we protect your data, the third parties with whom we share your data, and your personal data rights "has declared the declaration sent to all users of Polybius platforms.

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