- Nearly 57% of the requests originated from the U.S. alone.
- Coinbase alerted its customers about a CFTC subpoena linked to Bybit.
In the modern age, businesses are duty-bound to protect the tons of data entrusted with them by their customers. However, legal compliance obligations necessitate sharing some information with the government from time to time.
In such a situation, making the customers aware of such requests for data goes a long way to retaining their trust.
Coinbase publishes transparency report
One of the biggest Web3 companies, Coinbase [COIN], reported a 6% rise in requests from law enforcement agencies and governments from around the world, as per its latest transparency report.
This report covered the period from 1st October, 2022 to 30th September, 2023. The requests concerned civil, criminal, and other investigative matters.
Nearly 57% of the 13,079 requests received by Coinbase originated from the United States alone, marking an increase of 7% from last year. U.S. topped the list in the previous report as well.
Source: Coinbase
Criminal enforcement matters made up 90% of all requests received from the U.S. Moreover, 95% of all requests received from around the globe were from criminal enforcement agencies.
Source: Coinbase
At 1,906, Germany was the second-biggest source of such requests for data. The four countries – the U.S., Germany, the UK, and S
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Author: Aniket Verma
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