Troy Hunt, creator of Have I Been Pwned, announced that the measure would likely follow the tightening of Australia’s cryptocurrency oversight requirements. Hunt stressed that this level of compliance was impossible to fulfill, especially when applied to small donations.
Key Takeaways
Troy Hunt plans to drop crypto donations because strict Travel Rule laws make small tips impossible.Coinbase required extensive sender data for a $6 donation, disrupting anonymous peer-to-peer funding.AUSTRAC enforced Travel Rule mandates on July 1, tightening KYC oversight for virtual asset providers.On social media, Hunt complained after being prompted by Coinbase to provide the information from a donation made by an unidentified third party due to new Australian regulations.
Coinbase stated that “new Australian regulations require information about the sender when you receive crypto outside Coinbase.” To redeem these funds, Hunt must provide the full name, country of residence, ID number, home address, and date of birth of the sender to redeem these funds.
