Coinbase has released its first Transparency Report, 90% of all requests come from the U.S., UK, and Germany
Coinbase, the largest cryptocurrency exchange in the US has released its first Transparency Report that shares insights into how Coinbase handle legitimate government requests for some customer data.
Information Request Ranking in the first half of 2020
According to the report on the 16th, Coinbase received 1914 disclosure requests from governments in multiple countries in the first half of 2020. Most of them (96.6%) were related to criminal activity, with civil or administrative requests at 3.4%.
There were requests from 35 countries, 1113 requests come from US agencies, accounting for 58%. This was followed by 441 cases (23%) in the United Kingdom and 176 cases (9%) in Germany. 90% of all requests come from three jurisdictions: the U.S., UK, and Germany.
Other European countries, such as France, Austria, Spain and Ireland, ranked in the top 10 in terms of requests. In Asia, there were only 6 cases in South Korea and 5 cases in Singapore, and it seems that there was no request from the Financial Services Agency of Japan. Japan is not a target country for Coinbase services either.
Requests come from US state or local authorities
Next, among law enforcement agencies in the United States, the Federal Bureau of Investigation (FBI) requested 340 (30.5%), the Department of Homeland Security Investigation (HSI) 184 (16.5%), and state agencies and local governments 180 cases (16.2%), Drug Enforcement Administration (DEA) 104 cases (9.3%).
Regarding cryptocurrency regulations, there were also a small number of requests from the Securities and Exchange Commission (SEC = 2.6%) and the Commodity Futures Trading Commission (CFTC = 0.6%).
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