Coinbase has reported a 6% increase in information requests from law enforcement and government agencies compared to 2022, according to the exchange's annual transparency report. The number of jurisdictions issuing requests has risen by 19, with the United States, Germany, the United Kingdom, and Spain constituting nearly three-quarters (73%) of the 13,079 agency requests between Q4 2022 and Q3 2023.
In this period, the United States led with 5,686 requests, representing an increase from 5,304 the previous year, with 90.4% originating from criminal enforcement agencies. Germany ranked second with 1,906 requests, followed by the United Kingdom, which experienced a slight decline in requests over the year to 1,401. Spain ranked fourth with 732 requests. Australia saw a significant increase of 262% in requests, reaching sixth place at 453, while Ukraine's requests more than tripled, and Portugal's more than doubled.
Covering the final quarter of 2022 and the first three of 2023, Coinbase's report included subpoenas, court orders, search warrants, and other formal legal processes. In response to these requests, Coinbase provided customer information such as names, recent login/logout IP addresses, and payment details. The company may, however, push back on certain requests.
Coinbase noted in a September blog post that 83% of "G20 members and major financial hubs" have implemented crypto regulations, including the European Union's Markets in Crypto-Assets (MiCA) regulation. Meanwhile, global enforcement agencies have intensified efforts against crypto-related crime, bolstering their units to trace potentially illicit crypto transactions.
In June of the same year, Coinbase faced enforcement action with a lawsuit from the U.S. Securities and Exchange Commission, accusing the platform of selling unregistered securities. Coinbase contested the SEC's authority in the case in a court filing in October.
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