Coinbase Receives Nearly 2,000 Inquiries From Law Enforcement In H1 2020
The American cryptocurrency exchange Coinbase today published the first-ever report on appeals to it by various law enforcement agencies. The company was previously criticized by human rights activists for not publishing such reports..
According to the exchange, in the first half of 2020, it received 1,914 requests. About 90% of them came from three countries: USA, UK and Germany. US departments sent 1,113 requests, or 60%. Among them, the most active was the Federal Bureau of Investigation with 340 inquiries..
In September, the nonprofit Electronic Frontier Foundation (EFF) urged Coinbase to start publishing reports to improve transparency. Many tech companies follow this practice, including the Kraken exchange.
Coinbase says it receives inquiries from law enforcement on a regular basis, usually in the form of subpoenas. Sometimes they are accompanied by search orders, court orders and other procedural documents..
“When these requests comply with financial regulations and other applicable laws, Coinbase is required to respond,” the exchange writes. “At the same time, we do not hesitate to refuse when it is appropriate, even if it is inconvenient or entails additional costs”.
Henceforth, Coinbase promises to regularly publish such reports, but does not specify how often.
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