EXCHANGE KRAKEN RECEIVED 475 REQUESTS FROM THE AUTHORITIES OVER THE PAST YEAR
Kraken has published an infographic with statistics regarding the complaints received from law enforcement agencies and regulators for 2018. According to the data presented, last year the number of requests from the authorities increased three times compared to 2017.
In total, the exchange received 475 requests in 2018. Most of them were from American authorities (315). Thus, the Bureau of investigation of the USA HSI’s National Security Investigations department sent 91 requests, the FBI – 67 and the Drug Enforcement Administration (DEA) – 40 requests.
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) were disturbed by the Kraken, not so much. They sent a total of 29 requests.
At the same time, US citizens make up only about 20% of all clients of the exchange.
According to Kraken, there are 11 different agencies in the US that can send requests to the exchange. The company noted that the processing of such appeals takes a lot of time and effort, which is quite burdensome. However, the exchange does not always provide the required information. So, in April Kraken refused to respond to the request of the Attorney General of New York state.
We also note that over the past two years, the SEC has opened more than 90 cases against crypto companies, most of which were launched in 2018.