Taylor Swift's Mulling Over Crime Report Against Kim and Kanye

Taylor Swift is thinking about filing a crime report against Kanye West for illegally recording their phone conversation, and against Kim Kardashian for publicly releasing the audio ... TMZ has learned.

Sources familiar with the situation tell us Taylor is undecided and is trying to think through the consequences of filing a police report.

TMZ broke the story ... when Taylor's team found out about the recording, her lawyer fired off a letter to Kanye's attorney, threatening legal action and notifying him the recording was a criminal violation ... punishable as a felony.

We're told Kanye made the recording in the L.A. area -- and in California, a party to a phone conversation cannot record it unless all parties agree. Taylor had no idea she was being recorded.