We provide a variety of cryptocurrency products and services to over 9 million customers in 190 countries. Last year, we received data requests from law enforcement and government agencies in 69 countries.
Although these requesting agencies were spread across the federal, state, and local levels, the majority of requests received came from law enforcement agencies. The most common requests for which data is provided are:
We receive many different types of requests for information, and Kraken has strict policies and procedures to protect our customers’ personal information while complying with laws and regulations and providing data where we are legally obligated to do so.
U.S. agencies issued 28.2% of all data requests in 2023.
Kraken received 4,923 data requests in 2023. As in 2022, the United States issued the most requests (1,393). Additionally, the FBI received the most requests (33.1%) of any U.S. agency.
The 2023 U.S. requests primarily originated from law enforcement agencies. While the SEC issued only 1.8% of all U.S. agency requests, the SEC issued 58.1% of all U.S. regulatory agency requests.
There will be a 33% increase in requests from global law enforcement and regulatory agencies in 2023 compared to 2022.
- Global regulator requests increase 70% compared to 2022.
- We provided data for 51% of requests. Data was requested for a total of 6,110 accounts, most often from customers located in the United States (22%), Germany (11%), and the United Kingdom (9%).
- The countries with the largest increase in data requests compared to 2022 are the British Virgin Islands (400%) and Australia (341%).
Dedicated team of compliance experts
Our compliance team is comprised of seasoned AML experts, attorneys, former law enforcement officers, Association of Anti-Money Laundering Specialists (ACAMS) certified analysts, and many other experts with cryptocurrency-related certifications.
They work to ensure that we conduct appropriate research and monitoring for our customers and the industry. To efficiently and professionally meet requests from law enforcement and regulators, we are building specialized teams and automating some processes while continuing to expand our compliance program, including reducing average request processing time by 33% in 2023 compared to 2022. And we are strengthening it.
Industry leading data security practices
Protecting your privacy is very important to us. We work tirelessly to protect your information through dedicated design efforts by our security and data privacy teams. For over 10 years, we have built industry-leading security practices led by the world’s leading security experts.
These materials are provided for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptocurrency or to engage in any particular trading strategy. Kraken does not and will not seek to increase or decrease the price of any particular cryptocurrency it offers. Some cryptocurrency products and markets are unregulated and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptocurrency market may result in loss of funds. Taxes may be levied on the appreciation and/or reporting of your cryptocurrency assets and you should seek independent advice regarding your tax position. Geographic restrictions may apply.