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KingNoosh | 7 years ago

I just want to point out that is the same creator as StreetLend[0] who has previously posted the same thing but under their other startup.

[0] https://news.ycombinator.com/item?id=16954306

discuss

order

madeofpalk|7 years ago

Really, it's just more FUD.

> GDPR threatens website owners with fines of 4% of turnover or €20 million (whichever is higher) if they do not jump through a number of ambiguously-defined hoops.

...No. GDPR certainly doesn't. The often quoted "4% of revenue" fines are upper bound of fines for the serious intentional and continuous violations.[1] Spreading information like this is almost certainly the textbook definition of FUD.

GDPR is, largely, 'common sense' regulation. At the gist of it is "be responsible with users data". If you want to store personally identifiable information, that comes with it a set of responsibilities that you have to keep on top of. Delete data when users ask for it. Inform users about what you do with their data. I really think that's the minimum you could ask for.

Edited fines to align closer to the language used in the actual regulation

[1]: https://en.wikipedia.org/wiki/General_Data_Protection_Regula...

cbeach|7 years ago

> The often quoted "4% of revenue" fines are the last step after warnings and smaller fines.

Are you making a legally binding guarantee there?

api_or_ipa|7 years ago

And the author of this post is none other than Chris Beach, the author of both applications.

cbeach|7 years ago

Note that a reference to the closure of StreetLend is included on this page about the shutdown of CoinTouch.

No shenanigans intended.

Thanks for linking to the prior discussion.