Posted 11/28/2023, 8:53:46 PM
Coinbase Subpoenaed by CFTC for Bybit User Data Amid Crypto Exchange Crackdown
- Coinbase received a subpoena from the CFTC seeking info on users of the Bybit crypto exchange
- Coinbase may provide user account and transaction data to the CFTC by Nov 30 unless subpoena is reversed
- Bybit restricts use in the US but may be accessible via VPN; it reached 20M users and gained licenses in UAE, Kazakhstan, Cyprus
- Bybit imposed KYC verification in 2021 and left the UK market due to new regulations
- The CFTC labeled itself the top crypto enforcement agency, filing 47 digital asset cases in 2023 including against FTX, Celsius, Voyager Digital