Today, we're turning the spotlight onto one of the biggest players in the crypto world - Kraken. Founded in 2011 by Jesse Powell and headquartered in the technology hub of San Francisco, Kraken has sw...

State attorneys general support Kraken in their legal battle against the SEC, arguing that the SEC's actions exceeded its authority.

Summary: Kraken, a popular cryptocurrency exchange, has obtained a Virtual Asset Service Provider (VASP) registration from the Dutch Central Bank (DNB) as part of its expansion plans in Europe. This allows Kraken to offer a range of services related to virtual assets, such as exchange, transfer, custody, and wallet services, in the Netherlands. The acquisition of BCM in October further emphasizes Kraken's recognition of the Dutch market's significance, given that 20% of Dutch citizens own digital assets, one of the highest rates in Europe.

The sentiment of the news article is negative as it mentions enforcement actions against Binance, indicating potential negative impact on crypto prices.

The US Securities and Exchange Commission has further delayed responding to Coinbase's request for clarity on cryptocurrencies. Additionally, the agency is targeting digital asset exchanges for not registering as securities brokers, causing frustration in the crypto community.

The SEC has filed a new lawsuit against Kraken, categorizing Cardano (ADA) and Solana (SOL) as securities.

The sentiment of the recent news articles is negative towards the Securities and Exchange Commission (SEC) and its legal actions against cryptocurrency exchange Kraken. The articles highlight the contentious legal tussle between Kraken and the SEC, with Kraken's co-founder criticizing the SEC and its Chair for hindering technological innovation and igniting concerns in the crypto market. The SEC's cautious approach in its legal actions against crypto firms is also mentioned.

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Kraken, accusing the cryptocurrency exchange of illegally operating a trading platform without registering with the regulator. The SEC alleges that Kraken commingled customer and corporate funds while operating as an unregistered broker, clearing agency, and dealer. This is not the first time Kraken has faced charges from the SEC, as they settled previous charges just nine months ago. The SEC has also sued Kraken's parent firms, Payward and Payward Ventures, for allegedly operating as an unregistered online trading platform.

The bankrupt FTX Derivatives Exchange has initiated an on-chain transfer of 250,000 SOL tokens worth $13.6 million to the Kraken exchange, putting Solana at risk of mild liquidation.

Kraken, a major crypto exchange in the US, is reportedly looking to create its own Layer 2 blockchain network, similar to rival exchange Coinbase. Kraken is considering partnering with blockchain developers such as Polygon, Matter Labs, and the Nil Foundation to build this scaling solution. This move comes after Coinbase successfully launched its own Layer 2 network using Optimism technology earlier this year.

Kraken, a crypto exchange company, has notified its users that it will be sharing customer information with the IRS next month. This comes after the IRS issued a court order in June, requiring Kraken to provide certain records and data. The information being shared includes data on crypto trades exceeding $20,000.

Kraken Overview

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Kraken, a dependable and safe platform for trading digital assets, is committed to driving the widespread acceptance of cryptocurrency, thereby empowering you and everyone else globally to attain economic independence and inclusivity.

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Company Legal Name: Payward Brokers Pte Ltd

Year Founded: 2011

HQ Location: Level 42, Suntec Tower Three, 8 Temasek Blvd, Singapore 038988

HQ Timezone: Asia/Singapore

Alexa US Rank: 3,903

Alexa Global Rank: 4,670

Total Employees: 590

Total $ Raised: 111,500,000

Estimated Annual Revenue: $50M-$100M