Requests for information about Coinbase begin to grow
Coinbase's annual report revealed that the request for information from different organizations increased by 6 %
In its annual transparency report, cryptocurrency exchange Coinbase reveals a 6 % increase in requests received by government and law enforcement agencies compared to 2022. In addition, it highlights a 19 % increase in the number of jurisdictions issuing requests.
Four countries, the United States, Germany, the United Kingdom, and Spain, accounted for approximately 73 % of the 13,079 information requests directed to Coinbase in the fourth quarter of 2022. The United States leads with 5,686 requests, an increase from the previous year, with a 90.4 % coming from criminal law enforcement agencies.
Germany, with 1,906 applications, surpasses the United Kingdom, which experienced a slight decrease, reaching 1,401 applications. Spain occupies fourth place with 732 applications. Australia stands out by sending 262 % more applications, ranking sixth with 453 applications.
Coinbase details that the requests cover subpoenas, court orders and formal legal processes. The platform provides customer information, including name, IP address and payment details. However, the company may request reduction of claims in certain circumstances, in accordance with financial regulations and other applicable laws.
The report highlights that 83 % of “G20 members and major financial centers” have crypto regulations in place. Coinbase points to the global escalation in the fight against cryptocurrency-related crimes and cites enforcement actions, such as the US SEC’s lawsuit in June over the sale of unregistered securities, which Coinbase refuted in October.
K. Tovar
Source: Cointelegraph
(Referential image source: PiggyBank, Unsplash)
Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram
