Kraken Faces Growing Regulatory Pressure from Authorities
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Kraken saw a 39% rise in government data requests in 2024, with U.S. agencies leading the surge, according to its latest transparency report.
The exchange received 6,826 requests from 71 countries, with the FBI accounting for over 600 of the 1,951 U.S. inquiries. The SEC, despite its ongoing legal battle with Kraken, was the most active U.S. regulatory body.
Kraken provided data for 57% of requests, covering over 10,000 accounts, mostly from the U.S., U.K., and Germany.
Other frequent requesters included Germany, the U.K., and Australia. The exchange emphasized its commitment to legal compliance while protecting user privacy.
Beyond the U.S., regulatory scrutiny remained high worldwide, with authorities from Spain, Canada, France, and Italy among the top requesters. As global crypto adoption grows, exchanges like Kraken face increasing pressure to balance transparency with user protections.
The report follows Kraken’s financial disclosure, showing a $1.5 billion revenue in 2024—up 128% from the previous year.
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