🌎 Kraken Sees 38.6% Rise in Law Enforcement Data Requests

U.S.-based cryptocurrency exchange Kraken has released its latest transparency report, revealing a significant rise in global law enforcement and regulatory data requests in 2024. The report highlights a 38.6% increase in requests compared to 2023, with U.S. agencies making up 28.6% of the total.

Law Enforcement Requests on the Rise

The majority of requests were from law enforcement agencies, both federal and local. The FBI topped the list with the most requests — 614 in total. The U.S. Securities and Exchange Commission accounted for 1.9% of the U.S. agency requests, but issued a large portion (37.3%) of the regulatory agency requests.

Global Requests for Data

Out of the total 6,826 requests Kraken received in 2024, data was provided for 57% of them. Most requests were for accounts located in the U.S. (34.5%), the U.K. (8.8%), and Germany (8.5%).

Comparison to Other Exchanges

Another U.S.-based exchange, Coinbase, reported a decrease in global requests for data in 2024. According to their December transparency report, there was a total of 10,707 requests for the period, a roughly 18% decrease from 2023.

Country-Specific Trends

U.S. law enforcement still made up the lion’s share of requests, comprising around 81% of all law enforcement requests. Germany saw a drop in requests, from 1,906 in 2023 to 1,269 in 2024, while requests from Singapore saw a massive surge (+221%), jumping from 34 requests in 2023 to 109 in 2024.

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