Coinbase

Case #15761245

Hey everyone, I want to share an update my account restriction, ongoing for nearly 6 months now, hoping to shed some light on the situation I find myself in. I just had a chat with their customer support - and I must say, the representative was really polite. But, being polite didn’t solve the issue.

So here's the deal: My account is restricted for sending crypto (not buying or selling). They say it’s under review and will remain restricted until that's sorted out.

Now, honestly, if they want to close my account, I'm fine with it. I've actually asked Coinbase support to do that a couple of times. But there's a catch - to close the account, they say I need to sell all my crypto. That sounds straightforward, but selling would mean dealing with a massive tax bill from the gains.

So, I feel stuck. Coinbase isn't letting me withdraw my funds and close the account without paying thousands in taxes, and they also don’t give me a clear end to these “reviews” they're doing. It’s like being in a waiting room with no clue when your number will be called.

What I don’t get is if my account is seen as problematic and needs restrictions, why can’t they just let me withdraw my crypto and be done with it?

Just for some background: I've had my Coinbase account since 2017 and made fewer than 20 transactions in all this time. So, it's not like I'm super active or anything.

Coinbase, if you’re reading this, can we find a sensible solution? It seems it would be easier for everyone if you just let me take my crypto and go our separate ways.

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