Hard Truth. If you were fine with Canada locking bank accounts you should be fine with Coinbase requiring information for transfers.

I was having a conversation with a buddy who lives in Toronto and he was ranting about having to show proof of transfers out of Coinbase soon. (If you didn't know soon if you live in Canada you will have to explain where and why you are transferring anything over 1K out of Coinbase).

Well he was also super for Canada locking bankaccounts of terrorists. (Which I get. I felt like the government was showing why decentralization was important and them locking accounts should not be allowed.)

I told him it was a direct response to the events in Canada and he should just hold a cold wallet or something. He went on about it being too far and punishing normal people for a few bad apples. I said this is what people mean when they talk about a slippery slope. How would you identify those individuals face cameras?

Long story short. Don't be okay with governments punishing people that you don't politically agree with. Eventually you may be on the other end or lumped up with them.