One other thing to remember is that Kobo is still based in Canada. Under Canadian law, they would have to obtain permission to copy any identifiable information about your sideloaded books never mind the books themselves and give the users access to that information which is where the can of worms starts to pop open. Check into PIPEDA for more information on this.
There was a series of rather long discussions starting back in 2012 or so about this if you care to search.
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