cryptocurrency exchange kraken to acquire TradeStation Crypto, the digital assets division of trade station group.
With this acquisition, Kraken aims to expand its regulatory license in the United States. report Thursday (April 18).
“This transaction is part of our efforts to accelerate our U.S. presence and will open up further growth and new product opportunities for Kraken in the U.S.,” a Kraken spokesperson said in the report.
According to the report, TradeStation Crypto has obtained money transmitter and other regulatory licenses in many US states.
but securities and exchange commission According to the report, the SEC announced that the company paid $1.5 million in a settlement for failing to register its crypto lending products before offering them to investors.
The Kraken also clashed with the SEC. In November, authorities indicted the company for allegedly commingling customer funds with its own funds while operating as an unregistered securities exchange, broker, dealer, and clearing house, according to reports.
The company said at the time that it disagreed with the SEC's position and would continue to respond. protect position in court.
“The complaint against Kraken alleges no fraud, market manipulation, loss of customers due to hacking or security breaches, or breach of fiduciary duty,” Kraken said. blog post.
At an April 10th meeting in New York, Kraken's chief compliance officer said: CJ Rinaldi The company said it has learned that it is best to identify problems and notify them. Regulatory authority You can avoid any surprises by sending it directly.
Rinaldi was one of three chief compliance officers from crypto exchanges who spoke at Chainalysis’ Link conference. As other companies have said about themselves, Rinaldi said Kraken continues to invest in compliance management and staffing, and he hopes other companies in the industry can learn from its experience.
In another recent move, Kraken in February new brandKraken Institutional aims to provide a one-stop shop for institutional investors, asset managers, hedge funds and high net worth individuals with its existing products and services.
Kraken Institutional serves as a single point of contact for scalable, easy-to-integrate solutions for institutions seeking exposure to crypto asset classes.
