Crypto Exchange Kraken Says US Subpoenas Becoming ‘Barrier to Entry’

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San Francisco-based cryptocurrency exchange Kraken has said that the cost of handling government subpoenas is fast becoming a “barrier to entry” in the U.S.

On Saturday, the exchange tweeted an infographic from its “2018 Transparency Report,” indicating that the law enforcement and other inquiries it has received from various government agencies around the world have almost tripled year on year.

The firm received a total of 475 subpoenas in 2018 compared to 160 in 2017, with the majority (315) coming from U.S. agencies. The U.K. came in second with 61 requests and Germany third with 34.

“You can see why many businesses choose to block US users,” Kraken said in its tweet.

Source: Kraken/Twitter

Breaking down the U.S. figures, the

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