Coinbase disclosed on a Transparency Report It received 10707 requests over the course of the reporting period from international law enforcement and government organizations. This is a 18% decrease from the previous reporting interval.
The US has submitted more requests to law enforcement agencies and government departments than any other country for the third year in a row, despite the fact that this year’s number was down.
Coinbase has seen a significant drop in requests for law enforcement from major markets outside the US. Germany, UK and Spain saw a significant decline in requests, with 33%, 45% and 35% respectively.
Singapore was the exception, as it saw a 221% jump in its requests from 2023. The region was undergoing a growing amount of regulatory activity as the crypto industry grew in prominence.
Criminal Enforcement
Coinbase reports that 81% of requests originate from six countries: United States, UK, Germany France Spain and Australia. Most of the requests were related to matters of criminal law enforcement, including investigations into fraud or illicit financial activity.
These requests were made in various forms of law, including court orders, subpoenas or search warrants. In the report, it was stressed that only legally valid requests would be responded to.
The company also noted that it has a rigorous review process in place to make sure compliance is maintained without jeopardizing customer rights. Each request is reviewed by a group of dedicated lawyers, privacy experts and analysts.
Users can comply without being compromised
The report states that the aim is to limit requests which are too broad or vague, to reject those deemed insufficient by law, and to provide anonymous or aggregated information where it’s possible, instead of individual customer details.
Regarding the information shared with authorities, while Coinbase does provide certain customer details — such as names, IP addresses, and payment information—in response to valid requests, it stated that no government has direct access to its systems.
Coinbase’s decision to share these figures reflects its push for transparency as it navigates the regulatory landscape.
According to the report, proactively disclosing to customers and regulators the extent and nature of the government’s requests shows that a firm has a commitment to balance compliance with customer trust.
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