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Cryptocurrency exchange Kraken reported that in 2023, the number of requests received from US and international law enforcement agencies increased significantly.
Kraken management clarified that in 2023, the exchange processed 4,923 requests. They came from various agencies, including federal, state, and local governments. Most of the data was requested by law enforcement agencies and regulators. The most common requests were related to investigations, and 28.2% of the total number of requests came from US law enforcement agencies.
The Federal Bureau of Investigation (FBI) retained its dominant position — it accounted for 33.1%, which indicates the increased attention of the department to investigations related to cryptocurrencies. The US Securities and Exchange Commission (SEC) received only 1.8% of requests from the total number of applications filed by US agencies. However, the SEC accounted for almost 60% of requests from regulators in the country.
Kraken noted that in 2023, the number of requests to the exchange from law enforcement officers from around the world increased by 70% compared to the previous year. Kraken met 51% of the requests received, providing information on 6,110 accounts. Most of these accounts belong to users from the United States, Germany, and the United Kingdom. The exchange's management also reported an increase in the number of requests from law enforcement agencies in the British Virgin Islands and Australia — an increase of 400% and 341%, respectively.
"We take legal compliance seriously and prioritize protecting the privacy of our customers. Therefore, we adhere to strict disclosure procedures in accordance with applicable laws," Kraken explained.
Kraken management clarified that in 2023, the exchange processed 4,923 requests. They came from various agencies, including federal, state, and local governments. Most of the data was requested by law enforcement agencies and regulators. The most common requests were related to investigations, and 28.2% of the total number of requests came from US law enforcement agencies.
The Federal Bureau of Investigation (FBI) retained its dominant position — it accounted for 33.1%, which indicates the increased attention of the department to investigations related to cryptocurrencies. The US Securities and Exchange Commission (SEC) received only 1.8% of requests from the total number of applications filed by US agencies. However, the SEC accounted for almost 60% of requests from regulators in the country.
Kraken noted that in 2023, the number of requests to the exchange from law enforcement officers from around the world increased by 70% compared to the previous year. Kraken met 51% of the requests received, providing information on 6,110 accounts. Most of these accounts belong to users from the United States, Germany, and the United Kingdom. The exchange's management also reported an increase in the number of requests from law enforcement agencies in the British Virgin Islands and Australia — an increase of 400% and 341%, respectively.
"We take legal compliance seriously and prioritize protecting the privacy of our customers. Therefore, we adhere to strict disclosure procedures in accordance with applicable laws," Kraken explained.
