In the official Transparency Report released yesterday by Coinbase, covering from October 1, 2021, through to September 30, 2022, the popular exchange recorded a significant increase in law enforcement and agency requests, as they have more than doubled in the last year compared to the first three quarters of 2021.
12,320 information requests have been received by the listed company, with 95.3% being for criminal investigations, the rest for civil and administrative purposes.
The U.S. all but doubled the number of requests while requests from Spanish agencies rose from a timid 94 to a staggering 1,304 requests.
The United Kingdom and Germany kept their respective second and third place in the ranking.
This shows an increasing interest from regulators and law enforcement agencies into financial activities conducted in the crypto sphere.
However, despite what the politics may try to persuade us of, according to on-chain data, crypto transactions linked to criminal activity are but a very small fraction of the whole industry, as Chainalysis reported.
Coinbase has over 108 million users worldwide.