- Kraken is now a Restricted Dealer in Canada and follows new rules to protect investors in the crypto market.
- Cynthia Del Pozo will lead Kraken’s growth in North America and focus on strong ties with regulators and businesses.
- Kraken now has a UK license that lets it offer faster payments and more crypto trading options for British users.
Kraken has officially secured a Restricted Dealer registration in Canada. This confirms its ability to operate in the country while adhering to updated investor protection regulations. The approval follows a detailed pre-registration undertaking (PRU) process with Canadian authorities. The Ontario Securities Commission (OSC) will oversee Kraken’s compliance with these regulations.
The registration falls under the Canadian Securities Administrators (CSA) framework, which classifies it as one of eight firm registration types. Restricted Dealer status applies to companies that do not fit into traditional categories but must still comply with specific rules.
Kraken’s approval strengthens its presence in Canada, where it has been expanding despite tighter regulatory measures. In contrast, some crypto exchanges, such as Gemini, have exited the market due to increased restrictions.
Cynthia Del Pozo Joins Kraken to Lead North American Expansion
The crypto exchange has brought Cynthia Del Pozo on board as its North America General Manager to implement its expansion objectives. Ms. Del Pozo will be responsible for Canadian market growth through cooperation with regulatory bodies and political entities and building commercial channels.
Del Pozo brings to Kraken 15 years of expertise in financial services and fintech together with corporate development experience. The expertise of Cynthia Del Pozo is expected to assist Kraken in managing regulatory developments alongside marketplace expansion in Canada.
Kraken’s Canadian operations have grown steadily over the past two years. The company doubled its workforce and increased its user base while undergoing the PRU process. Currently, it holds over $2 billion CAD in client assets. To improve accessibility, Kraken now offers free Interac e-Transfer deposits, reducing the cost of crypto investments for Canadian users.
Kraken Expands in the UK with FCA Approval
Kraken has extended its reach outside Canada through its acquisition of an Electronic Money Institution license from the UK Financial Conduct Authority. The license enables Kraken to provide instant payments and enhanced deposit and withdrawal transactions through electronic money services to their UK clients. The regulatory approval supports Kraken’s current market expansion strategy which includes regional compliance for vital markets.
The company has achieved significant market position in the UK by providing its users access to more than 300 cryptocurrency options. Kraken maintains its position as the biggest GBP-trading platform while focusing on security measures and regulatory compliance. Kraken follows FCA standards to grow its market reach while developing new products that serve UK customers specifically.
Kraken’s Position in the Evolving Crypto Landscape
Kraken’s regulatory approvals in Canada and the UK highlight its commitment to compliance and strategic expansion. While some competitors face regulatory hurdles, Kraken continues to secure its market position. The company’s approach balances regulatory adherence with user-friendly services, ensuring sustainable growth in key regions.
