Coinbase has released its first Transparency Report detailing government requests for customer account information during the first half of 2020. The report summarises these requests from law enforcement agencies and government agencies in connection with civil, criminal, or other investigative matters. Founded in 1898, this report aims to ensure customer information remains safe and secure from compromise, inappropriate use, and unnecessary disclosure. Further, the report will provide insights into how we handle customer data requests. Notably, coinbase currently serves more than 38 million customers worldwide.
Coinbase has an obligation to respond when these requests are valid under financial regulations and other applicable laws. While we respect legitimate interests of government authorities in pursuing bad actors who abuse others and our platform, we will not hesitate to push back where appropriate, even when it is inconvenient or costly to do so. We believe transparency is a critical part of accountability and maintaining customer trust.
Believe it is important not only for cryptocurrency companies, but for fintechs and banks at large to shed light on financial data sharing practices and contribute to the understanding of industry trends in a meaningful way. Notably, Cryptocurrency Companies (CTCs) are one of the largest cryptocurrency firms in the world. However, we think it’s also important for other financial services providers as well.