The crypto exchange, Coinbase, has just published its fourth transparency report for 2022. It indicates that requests for information from law enforcement have increased dramatically around the world. A significant portion of requests related to criminal investigations originated from the United States. Coinbase said it would provide information to government agencies while protecting user privacy.
Requests for information from government agencies peak
the fourth transparency report published by Coinbase covers the period from October 1, 2021 to September 30, 2022. It shows that inquiries and inquiries received by Coinbase have increased by 66% over the past year. Indeed, among the 12,320 requests received, 5,304 came from the United States, or 43% of the requests. Four countries including the United States, the United Kingdom, Germany and Spain accounted for 80% of the requests. Then, 57 other countries issued the other 20% requests.
1,740 requests came from the United Kingdom and 1,668 from Germany. Then, requests from Spain increased by 940% in one year, and those from Belgium by 400%. During this period, 21 other countries sent requests to Coinbase for the first time. These countries include the Czech Republic, which sent 104. The report also indicated that 95% of the requests were for criminal investigations. Then, the other requests were civil or administrative.
Does Coinbase protect users’ personal data?
Paul Grewal, Coinbase’s chief legal officer said he would provide user information. It speaks in particular of the name of the user, the IP address of connection and disconnection, as well as the payment information. Thus, wanting to protect the privacy of its customers, the crypto exchange does not give them any direct access to user data.
He adds that the crypto exchange can challenge and restrict agency requests depending on the circumstances. This, in order to offer a more appropriate and more suitable response. The team seeks to provide anonymized or aggregated data that facilitates the work of law enforcement and government agencies, where possible.
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