Coinbase’s Global Reach: Unveiling Crypto Transparency with a 6% Surge in Requests

Coinbase’s latest transparency report, covering October 1, 2022, to September 30, 2023, reveals a 6% increase in global requests, now spanning 19 new jurisdictions. With 245,000 partners across 100+ countries, Coinbase’s expansion into derivatives and layer 2 solutions fueled this growth.

Coinbase released its 2023 Transparency Report and received a total of 13,079 requests from government agencies and law enforcement agencies. About 73% came from the United States, Germany, the United Kingdom, and Spain. The vast majority of requests came from law enforcement…

— Wu Blockchain (@WuBlockchain) December 1, 2023

In a move towards promoting customer privacy, Coinbase responded to various government orders such as a subpoena or a search warrant during this period. The organization seeks to balance privacy and its legal obligations while continuing to depend on transparency for reliability.

The report reveals that they received 13,079 requests, a 6% increase compared to the previous year. Importantly, from beyond the American shores emanated 57% of such requests, coming from nineteen countries such as Armenia or Costa Rica for the very first time last year.

These law enforcement requests comprised of 73% with the biggest numbers coming from the U.S, Germany, UK, and Spain. While the same happened to the United States, it still ranked first although with a slight increase in requests for the year under review. Australia registered an increment of 262% while the case of Portugal was 211%.

Though the UK sent fewer demands than last year’s total of 1,415, it is still one of the leading countries. The case of Australia saw a sharp increase with 408 requests as compared to 125 the previous year. Also, there were significant increases in France, which went up from 351 to 535 requests.

Coinbase Ensures Trust Amid Surging Law Requests

Most requests globally and in the U.S. are centered on criminal enforcement matters. This underscores law enforcement agencies’ emphasis on Coinbase’s platform

Furthermore, Coinbase follows stringent procedures in navigating these requests, involving expert teams for careful reviews. Coinbase aims to provide tailored responses, objecting to insufficient requests. The company prioritizes anonymized or aggregated data over individual customer information whenever possible.

By sharing this information openly, Coinbase underscores its commitment to building and maintaining trust with customers, partners, and communities globally. The charts accompanying the report visually present the data, showcasing the company’s dedication to transparency in a rapidly evolving crypto landscape.

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