Semler Scientific Bitcoin $88M: Leading bitcoin exchange Kraken saw a significant rise in law enforcement and regulatory data requests in 2024. According to its latest transparency report, the exchange received 6,826 requests from organizations across 71 nations, marking a 39% increase from the previous year. Kraken sees rising data as global attention on crypto intensifies.
Leading the worldwide demand with 1,5101 searches was the United States. Comprising 614 requests, or 31% of all U.S. inquiries, the Federal Bureau of Investigation (FBI) ranked highest on the list. Previously suing Kraken over claims of running an unregistered exchange, the Securities and Exchange Commission (SEC) accounted for 1.9% of U.S. queries but made up 37% of all regulatory-focused inquiries.
According to Kraken, it supplied information for 57% of all the 2024 inquiries. Mostly related to people in the United States, the United Kingdom, and Germany, these searches mostly sought information on 10,369 accounts.
Outside of the United States, Germany, the UK, and Australia were among the nations with strong demand. Among the top 10 requesting countries are Spain, Canada, France, Italy, and the British Virgin Islands as well.
Though demand is rising, Kraken reiterated its dedication to striking a balance between user privacy and regulatory compliance. Emphasizing tight standards to protect client information, the exchange stressed that it only distributes data when legally mandated.
The openness report of Kraken coincides with more general regulatory examination of bitcoin platforms. Reflecting a 128% gain from the year before, the corporation has lately revealed a revenue surge of $1.5 billion in 2024. Kraken keeps negotiating compliance while pushing financial independence in the crypto sector as governments all over tighten control.
