Kraken sees growth in government requests
Date: 2025-02-21 Author: Henry Casey Categories: BUSINESS
The cryptocurrency exchange Kraken reported a significant increase in the number of requests from government agencies. According to the company, 28.6% of all requests were received from US federal agencies, with the FBI leading the way with 614 requests. The US Securities and Exchange Commission (SEC) was also active, accounting for 37.3% of requests.
Over the past year, Kraken processed 6,826 official requests, with the exchange providing the requested information in 57% of cases. The largest number of requests concerned users from the US (34.5%), the UK (8.8%) and Germany (8.5%).
The company noted that their compliance department is staffed with professionals with experience in combating money laundering, legal analysis and law enforcement. These specialists monitor suspicious transactions and interact with government agencies.
As Kraken data for 2023 shows, the number of requests from US and international law enforcement agencies has increased significantly compared to 2022. The most frequent requests were related to investigations in the cryptocurrency sphere.
