In its latest transparency report, Coinbase claimed the number of information requests has jumped to 12,320. The US accounted for 43% of these requests. The exchange attributed the increase in legal inquiries to its own expansion and an overall increase in regulatory interest in the crypto industry.
Coinbase is proud to publish its fourth transparency report summarizing data requests for customer information we received from government agencies and law enforcement during the previous year. https://t.co/PGQ0gZ8qE5
— paulgrewal.eth (@iampaulgrewal) December 12, 2022
Coinbase noted there was a 100% increase in agency requests from six nations – Spain, Belgium, Italy, Netherlands, Austria, and Ireland.
“We are also committed to aiding the critical role of law enforcement and government agencies in pursuing bad actors who engage in prohibited activity or seek to abuse our platform.”
The crypto exchange said over 95% of the law enforcement requests were related to criminal matters. These include legal processes such as search warrants, subpoenas, and court orders, among other requests.
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Coinbase stressed that it strives to maintain the anonymity of its user base when it responds to law enforcement inquiries, adding,
“We also aim to provide anonymized or aggregated data that aids law enforcement and government agencies with their work, where it is possible to do so.”
