Cryptocurrency exchanges have to share more and more information about their clients. Coinbase received 5,562 requests from police and other government agencies in the first nine months of 2021.
The US Trade House is open about what they share with governments Transparency Report. Coinbase has received 24 requests for information from the Netherlands. The vast majority of requests came, of course, from the United States (2727).
data exchange
Government agencies and police around the world are trying to control the money flows surrounding bitcoin. An easy place to start is the (popular) galleries. Coinbase is required in many cases to share customer account information and financial data. For example in relation to civil, criminal or other investigative matters. These requests may be subpoenas, court orders, search warrants, or other forms of formal legal process.
Coinbase states in their report that they only share data if required by law. They say they review each application manually with the experts. They try to counteract when necessary.
We are required to respond to such requests if they are valid under financial regulations and other applicable laws.
Facts about a trip from January 1 to September 30, 2021:
- 84% of orders came from the US, UK or Germany
- Latvia, Greece, India, Turkey, Bosnia, Hungary, and Russia, among others, were able to find Coinbase for the first time to obtain information about one or more of their clients
- With 5,562 applications, the number increased by more than 25% compared to the same period last year.
