Coinbase's global law enforcement requests fell 18% year-over-year in the past year

Coinbase disclosed in a transparency report that it received 10,707 requests from law enforcement and government agencies around the world over the past year, down 18% from the previous reporting period. Despite the decline this year, the United States submitted the most requests for the third consecutive year. Outside the United States, Coinbase received a significant decrease in law enforcement requests from major markets. Requests from Germany, the United Kingdom, and Spain fell sharply by 33%, 45%, and 35%, respectively. In contrast, the number of requests from Singapore increased by 221%, jumping from 34 in 2023 to 109 this year. This shows that its regulatory activity is increasingly active as the region becomes a cryptocurrency hub. Coinbase said that 81% of the requests came from six major jurisdictions: the United States, the United Kingdom, Germany, France, Spain, and Australia. The vast majority of requests involve criminal law enforcement matters, such as investigations into illegal financial activities, fraud, or other criminal issues. In addition, the company pointed out that its review process is very rigorous to ensure compliance without compromising customer rights. Each request is reviewed by a dedicated team of lawyers, analysts, and privacy experts. Regarding information shared with authorities, while Coinbase does provide certain customer details (such as name, IP address, and payment information) in response to valid requests, it says no government has direct access to its systems.