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Cryptocurrency Exchange in San Francisco Kraken said the cost of managing public citations is rapidly becoming an "entry barrier" in the United States.
Saturday, the exchange tweeted an infographic from its "2018 Transparency Report", which indicates that order forces and other requests for information received from various government agencies around the world have almost tripled from year to year.
In 2018, the company received 475 subtitles in total, compared to 160 in 2017, with the majority (315) coming from US agencies. L & # 39; U.K. came second with 61 requests and Germany third with 34.
"You can understand why many companies choose to block US users," Kraken said in his tweet.
Source: Kraken / Twitter
Breaking down the data from the United States, the agency that carried out the largest number of investigations in Kraken was the Homeland Security Investigations (HSI) with 91 citations. This was followed by the FBI with 67 and the Drug Enforcement Administration (DEA) with 40. The SEC and the CFTC made 29 combined requests.
Kraken He said in a Twitter thread, it receives requests for "all transactions, which could be petabytes of data when they actually only need withdrawals from a boy last week." Such requests are "taxable" on the resources of the enterprise as they often require a "significant amount of education and back and forth," he said.
When asked why he received more requests from the United States than other countries, the exchange He answered:
"The United States is about 1/5 of the customers but 2/3 of the requests.The US agencies are much more active and much less surgical.For many requests, we have no correspondences.It would not be surprising to find that the same quotations extend to all in the hope that a match will be found ".
The exchange is notoriously critical of the US bureaucracy. In April, the CEO of Kraken, Jesse Powell say CoinDesk that the exchange would not conform to an investigation on cryptographic exchanges launched by the New York Attorney General (NYAG). "I realized we made the wise decision to get out of New York three years ago and that we can dodge this bullet," Powell said at the time.
Later, in September, when the NYAG report was released, discovering that many cryptographic exchanges are vulnerable to market manipulation, Powell tweeted that "NY is so abusive, controlling, you broke with 3 years ago but they continue to haunt you …"
Image of US law through Shutterstock
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