Coinbase has exposed that it received a total of 1,914 requests for customer data from global law enforcement agencies throughout the 1st six months of 2020. It is, though, not clear how many of the requirements were satisfied.
In its first so-called’ transparency report’ available Friday, the U.S. crypto exchange – which claims a user base of 38M – says 97 per cent of the demands had to do with criminal investigations.
U.S. agencies accounted for the prime number of needs, sending 1,113 requisitions or 58 per cent of the total. At most 441 came from the U.K., 176 or 16.5 per cent from Germany & the rest from other parts of the world. Inside the U.S., Coinbase revealed that the Federal Bureau of Investigation demanded the most information. It succumbed 340 requests shadowed by local state agencies (180), Homeland Security Investigations (184), & the Drug Enforcement Administration with 104 requests.
Other requests were haggard from the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Secret Service, the Postal Inspection Service, the Department of Justice, and the Immigration and Customs Enforcement. Paul Grewal, chief legal officer at Coinbase, says the requests from law enforcement mainly come in the procedure of subpoenas. Occasionally, the desires include search warrants, court orders, & other formal processes, he further.
‘We respect the legitimate interests of government authorities in pursuing bad actors who abuse others and our platform,’ noted Grewal, added, ‘yet we will not hesitate to push back where appropriate.’
Coinbase’s ‘transparency report’ originates after the exchange’s criticism by the digital rights group Economic Frontier Foundation. The group suggested Coinbase issue such reports ‘for the public to know who is making those requests, or how often.”