Coinbase announced in a transparency report that it received 10,707 requests from global law enforcement and government agencies in the past year, an 18% decrease from the previous reporting period.
For the third consecutive year, the US has received the highest number of requests from law enforcement and government agencies, despite a decline this year.
Outside of the US, Coinbase experienced a notable decline in law enforcement requests from key markets. The number of requests fell significantly in Germany, the United Kingdom and Spain, by 33%, 45% and 35% respectively.
Singapore, on the other hand, stood out with a 221% increase in requests, from 34 in 2023 to 109 this year. This indicated growing regulatory activity in the region, which emerged as a prominent crypto hub.
Criminal law enforcement
According to Coinbase, 81% of all requests came from six major jurisdictions: the US, UK, Germany, France, Spain and Australia. The vast majority related to criminal enforcement matters, such as investigations into illegal financial activities, fraud or other criminal issues.
These requests took various legal forms, including subpoenas, court orders, search warrants, and other official processes. The report emphasized the obligation to respond only to legally valid requests.
Additionally, the company noted a robust review process to ensure compliance without compromising customer rights. It added that each request is examined by a dedicated team of lawyers, analysts and privacy experts.
Comply without endangering users
According to the report, the goal is to limit overly broad or vague requests, reject requests that are deemed legally insufficient, and provide anonymized or aggregated data instead of individualized customer data where possible.
As for the information shared with authorities, while Coinbase provides certain customer data – such as names, IP addresses and payment information – in response to valid requests, it stated that no government has direct access to its systems.
Coinbase’s decision to share these figures reflects its commitment to transparency as it navigates the regulatory landscape.
The report notes that proactively disclosing the scope and nature of government requests signals to regulators and users that the company is committed to balancing compliance and customer trust.