Coinbase receives over 13 000 government requests in one year
The exchange emphasizes that it does not provide direct access to customer information, but may transfer individual data
![Coinbase receives over 13 000 government requests in one year](https://storage.getblock.net/source/1/o1TDbqAfp4envUAvMYfdZsgB0aVoMY55.webp)
01.12.2023 - 08:43
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3 min
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What’s new? US crypto exchange Coinbase has published its fifth annual transparency report, in which it spoke about requests for information from government agencies and law enforcement agencies around the world. Coinbase noted that as the industry evolves and the exchange itself expands outside of the United States, their number is growing: from October 1, 2022, to September 30, 2023, it increased by 6% compared to the previous reporting period, and for the first time there were requests from 19 new jurisdictions.
What else is known? The exchange received 13 079 requests during the year, of which 44% were from the US. For the first time, agencies from Armenia, Cameroon, Costa Rica, Colombia, Colombia, Moldova, Sri Lanka, and other countries requested information. The number of requests from Ukraine (+315%), Australia (+262%), and Portugal (+211%) increased most significantly. As in previous years, the majority of requests were related to criminal enforcement proceedings.
Coinbase emphasizes that it does not provide anyone with direct access to customer information, but depending on the nature and scope of the request, it may provide name, IP, last login/logout address, and payment information to law enforcement or officials. If there is insufficient justification for disclosure, the exchange may deny or ask to narrow the request. These requests are evaluated by an internal legal team.
![“We asked the SEC for feedback, all we got was a lawsuit.” Coinbase CEO tells of 30 unsuccessful meetings with SEC officials](https://storage.getblock.net/source/1/QsFX6nr4T73B1TlJFIuZusjyoZl8OQpa.png)
“We asked the SEC for feedback, all we got was a lawsuit.” Coinbase CEO tells of 30 unsuccessful meetings with SEC officials
In 18 months, the exchange’s representatives have failed to get an answer from officials about the principle on which they categorize cryptocurrencies as securities
Earlier, Coinbase CEO Brian Armstrong described how the exchange itself unsuccessfully appealed to US officials for information on how to conduct business within the law. Thus, since last May, the company has held 30 meetings with the Securities and Exchange Commission (SEC) but has not been able to find out on what principle the agency recognizes individual cryptocurrencies as shares. In addition, Coinbase received a lawsuit from the SEC during the same period.
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