#CFTC subpoenas Coinbase#

The Commodity Futures Trading Commission (CFTC) is issuing a subpoena to Coinbase in the Polymarket case, requesting information related to certain customers. According to eric.eth, a co-author of EIP-1559, the CFTC requires Coinbase to provide the information by the close of business on January 15, 2025, unless Coinbase formally receives a motion to quash the subpoena or other legal documents preventing it from sharing such information. Coinbase has emailed customers informing them that they may be required to send account-related information to the CFTC pursuant to the subpoena. This indicates that the CFTC is actively investigating cryptocurrency trading platforms and may be using the Polymarket case as a starting point to further regulate the cryptocurrency market. The subpoena has raised concerns in the industry about the CFTC's increasing regulatory efforts and highlights the challenges cryptocurrency trading platforms face in terms of data privacy and user rights protection.