Coinbase tracks 6% rise in info requests from law, government agencies
The requests are increasing in number and coming from more jurisdictions every year.
Crypto exchange Coinbase says it recorded a 6% rise in requests from law enforcement and government agencies compared to 2022, with the number of jurisdictions issuing requests jumping by 19, according to the exchange’s annual transparency report.
Four countries — the United States, Germany, the United Kingdom and Spain — made up nearly three-quarters (73%) of the 13,079 agency requests to Coinbase for information between Q4 2022 and Q3 2023.
The United States made 5,686 requests to Coinbase, up from 5,304 last year, with 90.4% of those from criminal enforcement agencies.
Meanwhile, Australia sent 262% more requests to Coinbase compared to the previous year, placing it in sixth place at 453.
The report covered the final quarter of 2022 and the first three of 2023.
“Our obligation is to respond to these requests if they are valid under financial regulations and other applicable laws. […] Under certain circumstances, we may ask the government or law enforcement agency to narrow their request.”
Coinbase said in a blog post in September that 83% of “G20 members and major financial hubs” have crypto regulations in force or passed legislation on crypto.
