CFTC Asks for Data on Some Coinbase Users

By Mark Hunter

2 weeks agoWed Nov 29 2023 08:56:41

Checking out Time: 2 minutes

• Coinbase has actually signaled users about a subpoena from the Commodity Futures Trading Commission (CFTC) requesting for info on particular users
• The details looked for is potentially associated to the crypto exchange Bybit however this link is uncertain
• Coinbase is thinking about battling the subpoena and has up until November 30 to do so

Coinbase has actually informed specific users about a subpoena from a U.S. regulator possibly concerning the crypto exchange Bybit, as exposed in e-mails shared on social networks. According to the e-mail, Coinbase might react to the subpoena from the Commodity Futures Trading Commission (CFTC) unless served before November 30, 2023, with a movement to quash the demand. Bybit just recently stopped Canada and the UK following regulative modifications with which it might not comply, although there is proof to recommend that Bybit might not be the link.

Bybit Link Unclear

In a letter to impacted users, Coinbase mentioned that it had actually been “served with a subpoena … inquiring associated to your account and account deal activity,” with Bybit at first believed to be the link to link those whose details is looked for.

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