In 2023, Kraken, a major cryptocurrency exchange, experienced a significant increase in data requests, particularly from law enforcement agencies.
Around 28.2% of these requests came from U.S. law enforcement, highlighting their growing involvement in cryptocurrency investigations. Despite serving over nine million clients globally, Kraken received 4,923 data requests, a notable rise from previous years.
The company emphasized its commitment to compliance with regulations while safeguarding client privacy. Requests came from various government levels, with investigative matters being the primary focus.
The FBI accounted for a significant portion of U.S. requests, while the SEC played a substantial role in regulatory inquiries. Globally, regulatory agency requests surged by 70%, indicating increased scrutiny in the cryptocurrency sector.
Kraken fulfilled 51% of requests, disclosing information on 6,110 accounts, mainly from users in the U.S., Germany, and the U.K. Notably, certain jurisdictions, like the British Virgin Islands and Australia, saw substantial increases in data requests, reflecting the evolving landscape of cryptocurrency regulation worldwide.
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