The exchange disclosed that it processed a total of 4,923 requests during the year, originating from federal, state, and local authorities. Law enforcement agencies and regulators were the primary requesters of data. Notably, US law enforcement agencies made up 28.2% of the total requests.
The Federal Bureau of Investigation (FBI) stood out with a 33.1% share, signaling a heightened interest in cryptocurrency-related investigations. The US Securities and Exchange Commission (SEC) accounted for only 1.8% of requests from US agencies but was responsible for nearly 60% of regulatory inquiries in the country.
Kraken stated that it experienced a 70% increase in requests from global law enforcement agencies compared to the previous year. Out of the requests received, Kraken fulfilled 51%, providing information regarding 6,110 accounts. The majority of these accounts belonged to users from the US, UK, and Germany. Further, law enforcement agencies from the British Virgin Islands and Australia demonstrated a significant surge in requests, with a rise of 400% and 341% respectively.
“We prioritize safeguarding our customers’ privacy and strictly adhere to disclosure protocols in accordance with applicable laws,” explained Kraken.
In recent news, Kraken obtained a Virtual Asset Service Provider (VASP) license to operate in the Netherlands. According to Kaiko analysts, the exchange ranks among the top five crypto exchanges in terms of trading volume in euros.