Kraken Transparency Report: Data Requests Up 38%

Related: FBI Links $308M DMM.com Bitcoin Hack to North Korean Hackers

Subpoenas Most Common Request Method

Notably, the most common request method was via subpoena/summons, with 1,339 instances.

This is followed by consent orders (56), as well as warrants, police requests, and court orders.

Kraken reported that it handed over data for 57% of the requests they received. These requests pertained to 10,369 accounts, with clients primarily located in the U.S. (34.5%), the U.K. (8.8%), and Germany (8.5%).

“” Kraken noted in the report.

Commitment to Privacy Stressed Amid Rising Requests

At the same time, the exchange reiterated its dedication to client privacy. Kraken stated it has strict policies to make sure it follows legal rules while protecting user information. The companys Compliance Team is made up of experienced professionals. This includes AML experts, attorneys, former law enforcement officers, and ACAMS-certified analysts.

Kraken is still working to improve its compliance program to handle the growing number of law enforcement and regulatory requests efficiently.

Related: Federal Judge in Kraken Case Aligns with Ripple Ruling, Rejects SECs Crypto Securities Classification

Kraken Still Under Regulatory Scrutiny

Even though Kraken complies with law enforcement, it still faces regulatory challenges in the U.S., including an ongoing lawsuit with the SEC.

In January, the exchange scored a major victory when a federal judge agreed with the SEC v. Ripple ruling. The judge decided that crypto assets themselves arent securities, but rather how they are sold is what matters.

The SEC initiated its lawsuit against Kraken in November 2023, accusing the exchange of operating as an unregistered broker and clearing agency.