Tag Archives: kraken

It looks like Brian Armstrong of Coinbase fame was right to be as concerned as he was about the SEC and other organizations targeting crypto staking. In the latest headlines, the Securities and Exchange Commission has gone after Coinbase’s competitor Kraken. The exchange has agreed to shut down all its staking services as part of a settlement agreement and pay up to $30 million in fees. SEC Goes After Kraken In a complaint against the Northern California-based trading...

Kraken has had a tough time with the United States regulatory agencies. Despite the difficult environment, the crypto exchange is planning to roll out its own bank. Marco Santori, Kraken’s chief legal officer, revealed Kraken Bank is very much on track to launch. Kraken Bank According to Kraken Support, the offering will initially be available to the existing clients of the exchange in the US. Potential international expansion is also in the cards. Its official website states...

Cryptocurrency exchange Kraken is stepping away from Signature Bank for processing certain transaction types due to decisions made by the New York-based banking firm.  From now on, non-corporate clients cannot deposit or withdraw dollars from Kraken through Signature.  As reported by Bloomberg Law on Wednesday, deposits to Kraken using Signature will cease on March 15, while customers have until March 31 to withdraw from the company.  The news comes after Signature Bank...

Problems continue for major digital currency exchange Kraken. After forfeiting its position in Japan, closing its offices there, and letting all employees go in that division, the company has now had to do the same for its Abu Dhabi (located in the United Arab Emirates or UAE) location. Kraken Will No Longer Be in the UAE A spokesperson for Kraken has released the following statement: Kraken regularly reviews its business lines to ensure we’re employing resources...

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According to the latest edition of CoinShares’ weekly report, outflows in digital asset investment products reached $32 million last week, a level not seen since late December 2022. The sentiment could be attributed to exchange-traded product (ETP) investors being less optimistic about recent regulatory pressures in the US relative to the wider market. Bitcoin Bears the Brunt Outflow figures surged to $62 million the mid-way through last week, even as the sentiment improved...

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Following the Securities and Exchange Commission (SEC)’s crackdown against Kraken’s staking service on Thursday, one of its members is railing against her agency’s decision.  Hester Peirce – aka ‘Crypto Mom’ – issued a statement on Wednesday arguing that the SEC’s enforcement action is neither “efficient nor fair,” and that exchanges were never given a realistic pathway to registration, to begin with.  The SEC’s Enforcement Style  According to Peirce, the fundamental question...