Pronouncing the 2023 Kraken Transparency Document

Date:


We provide various crypto services and products to over 9 million purchasers in 190 other international locations. Ultimate 12 months, we won knowledge requests from legislation enforcement and govt companies situated in 69 international locations:

Whilst those soliciting for companies had been unfold around the federal, state, and native ranges, lots of the requests won had been from legislation enforcement companies. The commonest requests for which knowledge used to be supplied had been:

Many varieties of data requests are won, and Kraken has strict insurance policies and procedures to conform to rules and laws and give protection to consumer privateness whilst supplying knowledge when now we have a prison legal responsibility to take action.

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

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

2023 U.S. requests essentially originated with legislation enforcement companies. Whilst the SEC represented simply 1.8% of general U.S. company requests, they issued 58.1% of all U.S. regulatory company requests:

Mixed world legislation enforcement and regulatory company requests higher 33% in 2023 vs. 2022

  • International regulatory company requests higher 70% vs. 2022
  • We supplied knowledge for 51% of requests. Information used to be asked for six,110 general accounts – maximum incessantly for purchasers situated within the U.S. (22%), Germany (11%) and the U.Okay. (9%)
  • The biggest share building up in knowledge requests vs. 2022 got here from the British Virgin Islands (400%) and Australia (341%)

A devoted group of compliance professionals

Our Compliance Group is composed of seasoned AML execs, legal professionals, former legislation enforcement officials, Affiliation of Qualified Anti-Cash Laundering Consultants (ACAMS)-certified analysts and lots of different execs with cryptocurrency-related accreditations. 

They paintings to make sure we habits suitable investigations and tracking for our purchasers and the business. To successfully and professionally meet legislation enforcement and regulatory company requests, we proceed to extend and reinforce our compliance program, together with a 33% lower in 2023’s reasonable request turnaround time vs. 2022, as we constructed specialised groups and automatic some processes.

Business-leading knowledge safety practices

The privateness of your individual data is essential to us. We relentlessly paintings to offer protection to your data during the devoted design efforts of our Safety Group in addition to our Information Privateness group. For greater than a decade, we’ve been development an business main safety follow led by means of probably the most most sensible safety professionals on this planet:

Those fabrics are for normal data functions best and aren’t funding recommendation or a advice or solicitation to shop for, promote, stake or dangle any cryptoasset or to interact in any explicit buying and selling technique. Kraken does no longer and won’t paintings to extend or lower the cost of any specific cryptoasset it makes to be had. Some crypto merchandise and markets are unregulated, and also you will not be secure by means of govt reimbursement and/or regulatory coverage schemes. The unpredictable nature of the cryptoasset markets can result in lack of finances. Tax is also payable on any go back and/or on any building up within the worth of your cryptoassets and also you will have to search unbiased recommendation to your taxation place. Geographic restrictions would possibly follow.



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