Coinbase Sees a Rise in Goverments Request for Data
Coinbase sees a 6% rise in law enforcement requests, with the US, Germany, and the UK leading, as global crypto regulations intensify.
Coinbase, a major cryptocurrency exchange, reported that compared to last year they have seen a 6% increase in requests from law enforcement, they revealed this in their annual transparency report. The number of countries asking for information increased by 19.
From Q4 2022 to Q3 2023 The United States, Germany, the UK, and Spain made 73% of the 13,079 requests to Coinbase. The US had the highest number of requests with 5,686 requests, mainly from criminal enforcement agencies.
Germany had 1,906 requests, overtaking the UK's 1,401. Spain followed with 732 requests. Australia's requests to Coinbase reached 453 soaring by 262%.
Countries like Ukraine and Portugal also increased their requests as well, though they weren't in the top 15. The report included various legal requests like subpoenas and search warrants.
Coinbase responded to these requests, They provided information like customer names, log in details, and payment data.
Global cryptocurrency regulations are increasing, with Coinbase highlighting that most major financial countries now have crypto laws. This has made law enforcement agencies focus more on controlling and managing cryptocurrency activities
Coinbase itself faced legal challenges with the US SEC over selling unregistered securities. The exchange is expanding into regions with clear crypto regulations, like the European Union and Australia.
