Coinbase, one of the leading cryptocurrency exchanges based in the United States, has published its annual transparency report detailing a notable rise in law enforcement data requests. The report underscores growing regulatory and legal scrutiny on digital assets as authorities intensify their oversight.
Key Takeaways from the Report
- •Coinbase received 12,716 law enforcement requests globally from October 2024 to September 2025, an increase of 19% compared to the previous year.
- •Over half of these requests — approximately 53% — came from outside the United States, with a significant portion originating from countries such as Germany, the UK, France, Spain, and Australia.
- •The majority of requests are related to criminal enforcement, including subpoenas, court orders, and search warrants.
- •U.S.-based law enforcement agencies submitted 5,444 requests, maintaining their position as the primary source of legal inquiries since 2022.
Details of Law Enforcement Requests
According to Coinbase’s report, the requests received are primarily formal legal procedures such as subpoenas, court orders, and search warrants. While the company emphasizes its commitment to user privacy, it also states that it is bound to respond to valid requests under applicable laws.
Notably, Coinbase continues to maintain close ties with U.S. authorities. The company reports consistently high inquiry volumes from domestic law enforcement, with 5,444 requests in the reporting period alone. Coinbase CEO Brian Armstrong has been active in political circles, frequently engaging with policymakers, attending congressional hearings, and participating in White House events since the Trump administration took office.
Potential Regulatory Shifts and Industry Influence
The report comes at a time when regulatory debates intensify around cryptocurrency privacy and compliance. Meanwhile, speculation persists about the future leadership of the Federal Reserve. Prediction markets like Polymarket are betting on Kevin Hassett, a former economic adviser to Donald Trump and a member of Coinbase’s advisory council, to be nominated as the next Fed chair when Jerome Powell’s term concludes in May 2026.