The number of requests of various government entities to the American cryptocurrency exchange Kraken in 2018 rose three times from 160 to 475. This is evidenced by statistics provided by the site, writes CoinDesk.
Peek at our Compliance team’s Transparency Report 2018. You can see why many businesses choose to block US users. Cost of handling subpoenas (regardless of licenses) is quickly becoming a barrier to entry. Inquiries up 3x YoY. pic.twitter.com/YbyLEqhOUf
— Kraken Exchange (@krakenfx) 5 Jan 2019.
Over the past year the work of crypto currency exchange is interested in the 11 departments of the United States: 91 the request was sent to the Bureau of investigation of the national security Agency, a 67 FBI, 40 – out of Control narcotics, the SEC and CTFC sent a total of 29 queries.
Representatives of Kraken said that the attention of the authorities to their activities affects the dynamics of development of the cryptocurrency business
“Regardless of the license the cost of handling requests is rapidly becoming a barrier to work in this market. Now you understand why many companies prefer to block users from the United States,” — said representatives of the exchange.
In turn, host of CNBC Ran Neuner stressed that the main costs that the crypto currency exchange are the audits, ultimately passed on to customers.
We will remind, in April of 2018 Kraken refused any cooperation with the state of new York. This happened after the request of the former state attorney General Eric Schneiderman to demand the disclosure of information about activity of the largest stock exchanges.
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