Coinbase Study Reveals Global Law Enforcement Inquiries Skyrocket
The cryptocurrency exchange has claimed that the total number of queries has increased by 66 percent, with the United States contributing to the rise of inquiries by a significant margin; the United States, along with three European nations, made up 80% of all requests.
The most recent transparency report that was published by Coinbase discloses that the company has seen an increase in the number of information requests from law enforcement agencies over the course of the prior year.
The United States of America was the country that submitted the great majority of the requests, and the vast majority of those requests were connected to some kind of criminal inquiry.The most current report on Coinbase’s dedication to transparency covers the time period beginning in September and carrying on to include the four quarters that occurred before to that point in time.
The information exchange received a total of 12,320 information requests from law enforcement over the same time period, which represents an increase of roughly 66% over the previous year’s numbers.
The United States was the originator of 5,304 of those requests, which is comparable to 43 percent of the overall number of requests.The United Kingdom, Germany, and Spain each made between one thousand and two thousand requests, respectively. The majority of the requests came from the United Kingdom.These four nations were responsible for 80 percent of the total number of requests, despite the fact that petitions were also filed by 57 other countries.The number of requests coming from Spain increased by 940% compared to the previous year, reaching a total of 1,304.
It was one of six nations whose inquiries had increased by more than twice as many compared to the previous year in the year that had just ended.
A total of 21 different nations submitted their first request submissions throughout the time period that was analyzed for the purpose of this study. One of those countries was the Czech Republic, and its citizens contributed 104 of the total entries.
At this point in time, law enforcement authorities are not able to have direct access to the information indicated above via the exchange.