ConsenSys, the parent company of Metamask wallet, has become the latest name to make a substantial leap in its new privacy policy for regulatory compliance.
ConsenSys updated its privacy policy following the Uniswap DEX. Infura will gather the user’s IP data and Ethereum wallet address when they send a transaction when they utilize Infura as the default RPC provider in the MetaMask wallet.
Infura is essentially regarded as the “heart” of the Ethereum ecosystem; the project acts as critical infrastructure on the Ethereum blockchain. Infura contains a complete set of Ethereum network nodes, allowing developers to connect to these nodes. As a result, a major percentage of Dapp traffic will pass through Infura, which has numerous simple capabilities that do not necessitate the developer running a full node locally and maintaining it on a regular basis.
If a user connects MetaMask to their own Ethereum node or a third-party RPC provider, neither Infura nor MetaMask will gather their IP address or Ethereum wallet address. It should be emphasized, however, that any information gathering actions undertaken by the RPC provider they are utilizing will be susceptible to user information.
The ConsenSys team responded to this unexpected action by stating that it is necessary and appropriate for the company to gather such user information in order to comply with today’s existing regulations, including anti-money laundering laws (AML) and customer identity verification (KYC) standards.
Furthermore, ConsenSys intends to utilize users’ personal information in the future to communicate about promotions, events, and other news about the company’s goods and services.
Interestingly, it has been one year after ConsenSys co-founder Joseph Lubin “accidentally” mentioned the prospect of developing its own token for MetaMask wallet, prompting users to rush to use Metamask wallet and Polygon in response to the rumor. However, little progress has been made.
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