Coinbase recently made an announcement where they revealed that in the first six months of the running year, they received 1,914 requests from law enforcement agencies. They revealed that the requests arrived from global law enforcement agencies and not any particular country.
The requests that Coinbase received from the agencies were in reference to acquiring information on the users for their particular countries. Coinbase is yet to confirm if they catered any of the requests or not.
Coinbase revealed this information in their first-ever report that they call ‘Transparency Report’. The cryptocurrency exchange (Coinbase) currently boasts a 38 million user count. As per the report, 97% of the requests they received from the global law enforcement agencies were related to criminal investigations.
Out of the total 1,914 requests, Coinbase confirmed that 1,113 (58%) requests for user information acquisition were from the U.S. based agencies. Second in the list were the U.K. based law enforcement agencies that sent 441 (23%) requests for the information acquisition of the users.
Then there is Germany with a total of 176 requests that make up for 16.5% of the total requests for information acquisition. The remaining requests belong to countries from across the globe.
Digging further into the acquisition requests, Coinbase revealed that the majority of the requests launched from the U.S. were by the FBI. The Federal Bureau of Investigation submitted 340 requests for the user information release. The second law enforcement agency from the U.S. is Homeland Security Investigations that launched 184 requests.
(180) requests were launched by local state agencies and the Drug Enforcement Administration that launched (104) requests for information release.
Coinbase revealed that the remaining requests came from other agencies as well. The list of other agencies includes the Commodity Futures Trading Commission, the Postal Inspection Service, Securities and Exchange Commission, the Secret Service, Immigration and Customers Enforcement, and the Department of Justice.
The Chief Legal Officer of Coinbase, Paul Grewal, stated that the majority of the requests received were related to court orders, search warrants and other processes.