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HomeCryptocurrencyAsserting the 2023 Kraken Transparency Report

Asserting the 2023 Kraken Transparency Report


We provide a wide range of crypto services to over 9 million shoppers in 190 completely different international locations. Final yr, we acquired information requests from regulation enforcement and authorities companies situated in 69 international locations:

Whereas these requesting companies have been unfold throughout the federal, state, and native ranges, a lot of the requests acquired have been from regulation enforcement companies. The most typical requests for which information was offered have been:

Many forms of data requests are acquired, and Kraken has strict insurance policies and procedures to adjust to legal guidelines and laws and defend shopper privateness whereas supplying information when now we have a authorized obligation to take action.

U.S. companies issued 28.2% of all information requests in 2023

Kraken acquired 4,923 information requests in 2023; the U.S. issued essentially the most (1,393), because it did in 2022. The FBI, once more, had essentially the most requests of any U.S. company (33.1%):

2023 U.S. requests primarily originated with regulation enforcement companies. Whereas the SEC represented simply 1.8% of complete U.S. company requests, they issued 58.1% of all U.S. regulatory company requests:

Mixed international regulation enforcement and regulatory company requests elevated 33% in 2023 vs. 2022

  • International regulatory company requests elevated 70% vs. 2022
  • We offered information for 51% of requests. Information was requested for six,110 complete accounts – most frequently for shoppers situated within the U.S. (22%), Germany (11%) and the U.Ok. (9%)
  • The most important proportion improve in information requests vs. 2022 got here from the British Virgin Islands (400%) and Australia (341%)

A devoted workforce of compliance specialists

Our Compliance Staff consists of seasoned AML professionals, attorneys, former regulation enforcement officers, Affiliation of Licensed Anti-Cash Laundering Specialists (ACAMS)-certified analysts and lots of different professionals with cryptocurrency-related accreditations. 

They work to make sure we conduct applicable investigations and monitoring for our shoppers and the trade. To effectively and professionally meet regulation enforcement and regulatory company requests, we proceed to broaden and strengthen our compliance program, together with a 33% lower in 2023’s common request turnaround time vs. 2022, as we constructed specialised groups and automatic some processes.

Business-leading information safety practices

The privateness of your private data is essential to us. We relentlessly work to guard your data by means of the devoted design efforts of our Safety Staff in addition to our Information Privateness workforce. For greater than a decade, we’ve been constructing an trade main safety follow led by a number of the prime safety specialists on the earth:

These supplies are for common data functions solely and are usually not funding recommendation or a suggestion or solicitation to purchase, promote, stake or maintain any cryptoasset or to have interaction in any particular buying and selling technique. Kraken doesn’t and won’t work to extend or lower the value of any specific cryptoasset it makes out there. Some crypto merchandise and markets are unregulated, and also you will not be protected by authorities compensation and/or regulatory safety schemes. The unpredictable nature of the cryptoasset markets can result in lack of funds. Tax could also be payable on any return and/or on any improve within the worth of your cryptoassets and you need to search impartial recommendation in your taxation place. Geographic restrictions could apply.

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