[image credit : FBI]
Popular San Francisco-based cryptocurrency exchange Kraken has demonstrated its compliance credentials by revealing how many times it has cooperated with global law enforcement agencies.
In a 6th January tweet, Kraken published an infographic from its 2019 Transparency Report. In showed that requests for information were up 49% from 2018, with 710 information requests received and 1,222 accounts impacted.
Apparently, 62% of all requests for information resulted in data being provided, and 28% of requests were Non-Valid (not meeting local legal requirements or Kraken’s internal Law Enforcement production policy).
Unsurprisingly US law enforcement agencies made the vast majority of requests to Kraken with 432, followed by UK agencies at 86 and German agencies at 44.
The specific US agencies making most requests weren’t a surprise either, with the Federal Bureau of Investigation (FBI), Drug Enforcement Administration (DEA), Dept. of Homeland Security (DHS), and Immigration and Customs Enforcement (ICE) topping the list. Perhaps more surprisingly were the relatively low numbers of requests from the United States Securities and Exchange Commission (SEC) and Internal Revenue Service (IRS).
[image credit : Kraken]