Coinbase released its latest transparency report, revealing a record-high 12,716 government and law enforcement information requests for user data during the period from October 2024 to September 2025.
This represents a 19% increase compared to the previous 12-month cycle, underscoring growing global regulatory scrutiny on cryptocurrency platforms amid rising adoption and concerns over illicit activities.
The United States accounted for 5,444 requests about 43% of the total, maintaining its position as the top source since 2022. However, non-U.S. requests rose to 53% of the overall volume—a new high—driven by a 200 basis point increase year-over-year.
This shift highlights expanding surveillance efforts beyond U.S. borders. France led the surge with 1,114 requests, a massive 111% increase from the prior year, reflecting heightened EU focus on anti-money laundering (AML) under frameworks like MiCA.
This leap positioned France as the second-largest source of such requests globally, trailing only Germany among non-U.S. jurisdictions. This marks a 111% rise from approximately 527 requests in the October 2023–September 2024 cycle.
France’s requests accounted for about 8.8% of Coinbase’s overall 12,716 global requests, contributing significantly to the 53% non-U.S. share—a record high, up 200 basis points from the previous year.
These figures reflect received requests only; Coinbase notes that not all lead to responses, as each is vetted for legal validity, with only minimal or aggregated data disclosed when required.
The increase aligns with France’s intensifying regulatory and enforcement focus on cryptocurrencies, particularly around anti-money laundering (AML) and counter-terrorism financing (CTF). France, as a MiCA frontrunner, has ramped up oversight since the regulation’s full rollout in late 2024.
MiCA mandates stricter AML screening for crypto service providers (CSPs) like Coinbase, which operates under a French entity. This has led to heightened investigations into suspicious transactions, with authorities like the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and Tracfin (anti-money laundering unit) issuing more subpoenas and court orders.
The surge coincides with MiCA’s emphasis on transaction traceability, prompting a wave of data demands tied to cross-border flows. French prosecutors have escalated probes into crypto-linked illicit activities.
For instance the ongoing judicial investigations into platforms like Binance for alleged money laundering tied to drug trafficking across the EU which spilled over to broader ecosystem scrutiny.
While not directly targeting Coinbase, these cases have increased inter-agency collaboration, boosting requests to compliant exchanges like Coinbase for user transaction histories.
National efforts to combat crypto-fueled organized crime, including ransomware and sanctions evasion, with France reporting a 25% rise in crypto-related AML alerts in 2025 per Tracfin data.
The exchange faced a €21.5 million fine from Ireland’s Central Bank in November 2025 for AML failures involving over $202 billion in transactions, but France’s ACPR has similarly intensified on-site inspections of CSPs ahead of MiCA licensing renewals.
Additionally, a May 2025 Coinbase data breach exposed 69,461 users’ details with $400 million in damages may have prompted French authorities to seek verification data amid privacy concerns.
Rising crypto adoption in Europe, 17% of French adults holding digital assets per 2025 surveys has amplified illicit use cases, fueling ~95% of requests linked to criminal probes like search warrants and emergency disclosures.
This surge underscores France’s pivot toward “regulated innovation,” balancing crypto growth with robust surveillance. For Coinbase users in France and EU-wide via passporting, it means heightened compliance burdens, potentially delaying transactions or requiring enhanced KYC.
Privacy advocates warn it could deter adoption, pushing users toward decentralized alternatives, while Coinbase reiterates its “no direct access” policy and per-request reviews.
As MiCA evolves, expect France’s trend to influence other EU states, with non-U.S. requests projected to exceed 60% by 2026. Germany: 1,210 requests, down 5% year-over-year. United Kingdom: Up 16%, contributing to the top six countries U.S., Germany, UK, France, Spain, Australia that made up ~80% of all requests.
Spain: +27%. Moldova saw a 5.7x jump, while South Korea’s requests plummeted 67%. Approximately 95% were linked to criminal investigations, including subpoenas, court orders, search warrants, and emergency disclosures.
Coinbase emphasized that it reviews each request individually for validity and scope, providing only the minimum required data—often anonymized or aggregated—and does not grant governments direct system access.
This uptick occurs against a backdrop of regulatory challenges for Coinbase, including a €21.5 million fine from Ireland’s Central Bank in November 2025 for AML screening failures affecting over $202 billion in transactions, and a May 2025 data breach exposing details of 69,461 customers resulting in estimated $400 million in damages.
Despite these issues, the exchange’s Q3 2025 revenue hit $1.9 billion up 58% YoY, signaling robust business growth. The trend raises privacy concerns for crypto users, as centralized exchanges like Coinbase must comply with legal obligations to maintain licenses.
Experts note it exemplifies how user data on such platforms is “one subpoena away” from government access, potentially spurring interest in self-custody solutions. For global users, including in emerging markets like Africa, it signals spillover effects from stricter policies in major jurisdictions, impacting cross-border crypto flows.
As crypto integrates further into traditional finance, expect continued escalation in such demands unless privacy-enhancing technologies gain traction.
Myriad and Trust Wallet Announce Partnership
Myriad Markets, a leading Web3 prediction market protocol, announced a partnership with Trust Wallet, the world’s largest self-custody wallet with over 200 million users.
This collaboration introduces the first-ever native in-wallet prediction market experience, allowing users to trade on real-world events—like crypto prices, politics, sports, and more—directly within the Trust Wallet app without needing to switch to external platforms.
Users access Myriad’s markets via a new “Predictions” tab in Trust Wallet’s Swaps section. With one click, they can place “yes” or “no” positions on event outcomes using their existing assets.
The process is designed for speed—trades execute in seconds, emphasizing seamless, self-custodial access. The launch coincides with Myriad surpassing $100 million in cumulative trading volume, a 10x increase over the past three months.
This includes over 400,000 active traders, 6.3 million trades, and 7.3 million transactions, fueled by its recent deployment on BNB Chain for lower fees and broader liquidity. Trust Wallet plans to integrate additional platforms like Kalshi and Polymarket into the Predictions hub, turning it into a one-stop gateway for tokenized real-world outcomes.
Myriad will anchor initial categories, providing infrastructure and popular markets. Farokh Sarmad, President and Co-Founder of Myriad: “Myriad Markets being the first ever Prediction Market integrated natively inside of a wallet marks a huge moment for this asset class.
Trust Wallet is where tens of millions of people begin and manage their crypto experience, so bringing Myriad directly into that flow makes on-chain predictions accessible in a way the industry has never seen before. We are honoured to partner and to move this industry forward together.”
Eowyn Chen, CEO of Trust Wallet: “People shouldn’t need five apps to express what they think will happen next. Wallets are becoming the home for all kinds of trading—not just tokens, but also information, opinions, and expectations. Our vision is to unlock access safely and give users the simplest way to participate in these emerging markets.”
Ilan Hazan, COO and Co-Founder of Myriad: “Being the first platform to launch within Predictions highlights the strength of the community and ecosystem behind Myriad. We are committed to building the most accessible and transparent environment for event-driven contracts, and this integration is an important step toward that vision.”
This partnership democratizes prediction markets by embedding them into everyday crypto tools, reducing friction and boosting adoption. Myriad, which has achieved explosive growth with minimal marketing spend, positions itself as a media-rooted protocol linking markets to news and video content via partners like Decrypt and Rug Radio.
Looking ahead, expect multichain expansions, enhanced oracles for event resolution, and U.S. regulatory alignment. The crypto community on X is buzzing about it, with users highlighting the ease for sports betting and sentiment-tracking markets like “Crypto Winter Is Coming?” resolving “Yes” if BTC drops to $35K, ETH to $1K, and alts lose major cap by Feb 2026.
Early sentiment leans “No,” reflecting optimism amid the bull run. If you’re a Trust Wallet user, update your app and check the Predictions tab to dive in. This feels like a pivotal step toward mainstream Web3 trading—watch for volume spikes as word spreads.
