Increased requests from government agencies for Kraken user data in 2024

The American cryptocurrency exchange Kraken has recorded a significant increase in requests for transaction data from law enforcement and regulatory government agencies. In 2024, their number increased by 38.6% compared to the previous year, which indicates an increasing interest in cryptocurrency transactions on the part of government agencies.

According to published data, 28.6% of the total number of requests came from US federal agencies. The leader among them was the Federal Bureau of Investigation (FBI), which sent 614 requests. In addition, requests from the U.S. Securities and Exchange Commission (SEC) accounted for a significant proportion of requests (37.3%). In general, over the past year, the exchange has received 6826 requests, and in 57% of cases provided the necessary information.

The largest number of requests related to accounts registered in the USA (34.5%), Great Britain (8.8%) and Germany (8.5%). This highlights the interest of regulators in cryptocurrency transactions in the largest financial jurisdictions.

Kraken representatives assured that the exchange’s regulatory compliance department includes experienced anti-money laundering specialists, lawyers, analysts, and former law enforcement officials. These specialists monitor suspicious transactions and work closely with government agencies.

It is worth noting that compared to 2022, the number of requests from American and international law enforcement agencies in 2023 has already shown significant growth. The main reason for the appeals was investigations related to cryptocurrency transactions.

Thus, Kraken’s data reflects the increasing control by the authorities over the cryptocurrency market. The increase in the number of requests indicates the desire of government agencies to combat financial crimes, money laundering and other illegal transactions related to digital assets. With increasing regulation, cryptocurrency platforms such as Kraken have to pay special attention to compliance with legal requirements and interaction with law enforcement agencies.