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San Francisco-based digital currency exchange Coinbase unveils that it has received a flood of requests from law enforcement agencies in the US and around the world.
In its first-ever Transparency Report, the crypto exchange serving 38 million customers worldwide says it received 1,914 requests from law enforcement and government agencies that seek to get their hands on customer account information and financial records. Coinbase reveals that 96.6% of requests are related to criminal investigations, while 3.4% are connected to civil or administrative matters.
The crypto exchange also names the various law enforcement agencies that have filed customer information requests. The Federal Bureau of Investigation (FBI) accounts for 30.5% of requests, followed by the Homeland Security Investigations (HSI) with 16.5% of requests, and the Drug Enforcement Agency (DEA) with 9.3% of requests. Other government agencies that have also sought customer records from Coinbase include the Immigration and Customs Enforcement (ICE), the Internal Revenue Service (IRS), and the U.S. Securities and Exchange Commission (SEC).
Coinbase highlights that law enforcement bureaus of other countries have also requested customer information. Along with the United States, which is responsible for 58% of all requests, agencies from the United Kingdom, Germany, and France have filed for 441, 176, and 45 information requests, respectively.
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Featured Image: Shutterstock/Javier Cruz Acosta
