Discussions around blockchain regulation often drift toward extremes. Either the technology is described as impossible to govern, or regulation is framed as something that would break its core purpose. Reality tends to be less dramatic. One sector that has already spent years operating in this middle ground is online casinos, particularly those that adopted blockchain-based…
We are proud to share that we closely collaborated with the United States Secret Service (USSS) on an extensive investigation into a crypto fraud scheme. Fraudsters used social engineering techniques to build trust with victims over time, an approach commonly known as “pig butchering.” This joint effort resulted in the largest-ever crypto seizure by the…
At Kraken, we’re committed to building a secure and trusted platform for our clients. Over the past few years, we’ve significantly strengthened our global compliance framework – investing deeply in the people, processes and systems that keep our platform secure. We recently reached a key milestone in that journey: the completion of a multi-year effort…
Kraken is committed to ensuring that we comply with applicable laws and regulations. Our commitment to compliance, and evolving to keep up with regulatory change, positions us to advance our mission of accelerating global crypto adoption to promote financial freedom. Proactive regulatory adaptation Kraken has been proactive in adapting to regulatory changes. For instance, in…
The Federal Court of Australia has ruled that Bit Trade Pty Ltd., operating crypto exchange Kraken in Australia, failed to meet regulatory obligations for its margin trading product. The product was offered without a required market determination, breaching the Corporations Act. ASIC emphasized the need for compliance in the crypto industry, aiming to ensure consumer…