Remember, when an advertiser spends BAT to show an ad, 30% goes to Brave and 70% to the ad receiver. If that's OK with you, great if not, don't set your browser to show ads for months before you try cashing out or you'll get a nasty surprise.įrom Brave's perspective, there's also a conflict of interest here. I don't like that Brave doesn't say, on their Brave Rewards page, warning: You will need to give up your privacy to cash out. The government doesn't want money laundering and other financial crimes, and you might disagree with KYC but at least there's some argument there.
Uphold is an online exchange and crypto wallet more popular in Europe but very similar to Coinbase. No acronym can justify that, other than something that stands for "Businesses need to be responsible for their actions, not just their profits". And they will and apparently do engage in shady practices that compromise your privacy. They just hope that by marketing privacy, they can get a few customers. If OP's story is true, Brave is not above engaging in distrust for dollars. The issue is purely whether or not a business who praises their privacy credentials should clearly let their customers know that, if they choose to engage in business with them, their private information will need to be shared with a business who they may not trust. But there's no legal issues being raised. IANAL is obviously not a response to the original concern but merely intended to reduce the risk of the reply. Again, it's not a legitimate concern for the same reason as above. It is possible to prevent money from being laundered by telling a person up front, before they agree to sign up, that they have to give their private information to a third party.ĬYA is probably "Cover Your Arse". It again has nothing to do with informed consent. They're going to benefit from the ads, and they won't necessarily have to pay for that benefit, because they didn't adequately obtain informed consent before they began by informing you that you need to pony up PII to a third party.ĪML is probably Anti-Money Laundering. The concern is failure to provide adequate information about the consequences of your actions up front. It's not a legitimate response to the concern here. KYC stands for "Know Your Customer" and it's a reference to laws that require businesses to have a clue who they're doing business with.
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