Coinbase saw 20% jump in data requests from global law enforcement

The Federal Bureau of Investigation (FBI) and Homeland Security Investigations (HSI) made 51% of all data requests to Coinbase in the second half of 2020.

Coinbase said data requests usually arrive as subpoenas and to a lesser extent search warrants, court orders, and “other formal processes.”

Between July 1 and December 2020, Coinbase received 2,313 information requests — up 20% from the 1,914 in the first six months of the year.

96% from international law enforcement agencies.
90% of those from the US (1,197), UK (597), and Germany (260).
20% more requests from French police (45 to 69).

Civil and Administrative agencies made the other 99, according to the crypto exchange’s latest transparency report. That’s a 50% jump on 2020’s first half.

Only a dozen SEC data requests

The Securities and Exchange Commission (SEC) accounted for 1% of Coinbase’s data requests (about 15). Even less came from the Commodities Futures Trading Commission (less than 5).

Coinbase noted 7% fewer from US agencies overall.

The slight drop in activity from US agencies might be curious, but the increase elsewhere is unsurprising as the crypto market grew over 300% last year — from $240 billion to $760 billion.

It’ll be interesting to see how many data requests Coinbase gets hit with now the company has gone public.