Coinbase, a popular cryptocurrency exchange, has received a subpoena from the United States Commodity Futures Trading Commission (CFTC). The CFTC is seeking information about another cryptocurrency exchange called Bybit. It is speculated that Coinbase customers who also use Bybit have received a message regarding this subpoena. If the subpoena is not reversed by a court by November 30th, Coinbase may be required to provide information about its users’ accounts and transactions to the CFTC. Bybit, based in Dubai, claims to not provide services in the United States but can reportedly be accessed using a virtual private network (VPN). Bybit recently announced that it has reached 20 million users and describes itself as a top-three cryptocurrency exchange. The exchange has obtained licenses in the UAE, Kazakhstan, and Cyprus, and has implemented Know Your Customer (KYC) verification for its users. In September, Bybit announced its departure from the UK market due to new regulations. The CFTC has positioned itself as the leading enforcement agency for crypto and has initiated numerous cases in the digital assets sector. Both Coinbase and Bybit have not responded to requests for comment.

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Information	Details
Geography	Middle East
Countries	🇺🇸 🇦🇪 🇰🇿 🇨🇾 🇬🇧
Sentiment	neutral
Relevance Score	1
People	Stephen Ehrlich
Companies	Bybit, Coinbase, Financial Conduct Authority (FCA), United States Commodity Futures Trading Commission (CFTC), Opyn DeFi protocol
Currencies	None
Securities	None