FBI, SEC among top agencies requesting data from Kraken in 2024

Kraken recorded a 39% spike in enforcement and regulatory data requests last year, with most requests coming from the US Federal Bureau of Investigation.
Kraken recorded a 39% spike in enforcement and regulatory data requests last year, with most requests coming from the US Federal Bureau of Investigation.

Crypto exchange Kraken had a 39% increase in regulatory and enforcement data requests in 2024, with the majority coming from US agencies, including the Federal Bureau of Investigation (FBI), according to its latest transparency report.

The report, released on Feb. 19, said Kraken received 6,826 data requests from 71 countries in 2024, marking a significant increase from the previous year. The United States accounted for the largest share of requests, with 1,951 inquiries.

In the US, the FBI was the top requesting agency, issuing 614 data requests, or 31% of the US requests received by Kraken.

The US Securities and Exchange Commission (SEC) — which sued Kraken over the alleged operation of an unregistered exchange in 2023 — represented 1.9% of total US agency requests.

Kraken provided data for 57% of requests

In the report, Kraken said it provided data for 57% of all data requests in 2024. The requests involved queries for 10,369 total Kraken accounts, most often for clients located in the US, the United Kingdom and Germany.

“Many types of information requests are received, and Kraken has strict policies and procedures to comply with laws and regulations and protect client privacy while supplying data when we have a legal obligation to do so,” the exchange said.

Kraken, FBI, SEC, United States, Policy

US agencies issued 29% of all data requests in 2024. Source: Kraken

While the SEC’s requests accounted for a small amount of total US agency requests, the regulator made the biggest portion of US regulatory requests at 37%.

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Other US regulatory bodies requesting data included the State Regulatory Agency, the Commodity Futures Trading Commission and the Office of Foreign Assets Control.

Germany, the UK and Australia were among other top requesters

Outside the US, Germany, the UK and Australia were among the most frequent requesters. Other countries in the top 10 included Spain, Canada, France, Italy and the British Virgin Islands.

Kraken, FBI, SEC, United States, Policy

Kraken’s global data requests increased by 39% in 2024 compared to 2023. Source: Kraken

“Consistent disclosure of compliance information demonstrates our longtime commitment to complying with legal and regulatory requests in a way that is consistent with law enforcement and aligns with our ideals,” the exchange said, adding:

“Financial freedom, permissionless access to assets, and the acceleration of global crypto adoption — with a vigilant commitment to regulatory compliance and our client’s privacy.”

Kraken’s transparency report came soon after the exchange released its annual financial report, showing that it received $1.5 billion in revenue in 2024 or a 128% spike versus 2023.

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