Xapo Bank Requires Users to Enable Location Permissions Before Trading, Says It Will Cross-Check Data to Confirm Account Control

Odaily Planet Daily News: Bitcoin News posted on the X platform that Xapo Bank users have reported that the app has begun requiring users to provide location data before they can trade. It is said that one user was told they must share GPS coordinates to access their funds. Xapo Bank stated that it will cross-check location information with other data to confirm that the account holder controls the account. @ToneVays warned that location requirements could become the standard for regulated payment apps; Casa CEO @Nneuman said the measure may be aimed at addressing a large number of social engineering attacks, rather than traditional KYC.