Pascal Gauthier, the CEO of Ledger, recently addressed concerns over the new Recover program, which allows user wallet seeds to be shared and stored by three different parties. The crypto community raised concerns that shard holders could reveal user seeds or gain direct control of user wallets through this feature.
Gauthier Addresses Concerns on What Bitcoin Did Podcast
Gauthier appeared on the What Bitcoin Did podcast and countered concerns over the new feature by stating that the only concern is if Ledger gets subpoenaed by a government that requests the retrieval of the three shards. He suggested that governments usually only issue a subpoena in rare cases related to terrorism, drugs, and other criminal offenses.
Subpoenas Could Be Issued for Tax Reasons
Despite Gauthier’s assurances, others on the podcast suggested that governments could issue a subpoena for tax reasons, as the Internal Revenue Service (IRS) previously subpoenaed Coinbase to obtain customer data. Gauthier argued that Ledger does not have any information that is of interest to the IRS, as Ledger does not provide banking services.
Gauthier Reiterates Ledger Recover is Optional
Gauthier also reiterated that Ledger Recover is optional and that users who are not comfortable with the feature can use Ledger’s other storage methods. He argued that collusion between shard holders is not possible in 99% of all cases and that average individuals are not subpoenaed on a daily basis.
Pascal Gauthier, the CEO of Ledger, addressed concerns over government sanctions and wallet seed disclosure on the What Bitcoin Did podcast. Despite concerns raised by the crypto community over Ledger’s new Recover program, Gauthier suggested that the only concern is if Ledger gets subpoenaed by a government that requests the retrieval of the three shards. He argued that governments usually only issue a subpoena in rare cases related to terrorism, drugs, and other criminal offenses. Moreover, Gauthier reiterated that Ledger Recover is optional and that users who are not comfortable with the feature can use Ledger’s other storage methods.