Alleged investigation on the Bybit exchange: CFTC requests user data from Coinbase.
Coinbase informed some of its users via email that it has received a subpoena from the U.S. Commodity Futures Trading Commission (CFTC), which would require them to provide their data to the regulatory body. According to unconfirmed reports, the email was allegedly sent to users who have conducted transactions to or from the Bybit cryptocurrency exchange.
Details
Details have emerged through Coinbase emails, later shared on social media. A industry source subsequently confirmed this information to The Block.
Coinbase is obligated to respond to the subpoena unless it files a motion to dismiss or an objection to the subpoena with the court by November 30, 2023. If it fails to do so, Coinbase may be compelled by authorities to disclose user information to the CFTC.
Neither Bybit nor the CFTC has released official statements regarding the situation.
