{"id":138112,"date":"2023-09-02T04:27:12","date_gmt":"2023-09-01T22:57:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138112"},"modified":"2023-09-02T04:27:12","modified_gmt":"2023-09-01T22:57:12","slug":"strict-canadian-crypto-exchange-rules-allowed-kraken-clarity-to-invest-there-exec-says-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/strict-canadian-crypto-exchange-rules-allowed-kraken-clarity-to-invest-there-exec-says-crypto-news\/","title":{"rendered":"Strict Canadian crypto exchange rules allowed Kraken clarity to invest there, exec says – Crypto News"},"content":{"rendered":"
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Size and energy allowed Kraken to stay in Canada after the imposition of new registration requirements for crypto exchanges in February. But in spite of the demanding process, the regulatory clarity has benefited the company, Kraken managing director for Canada Mark Greenberg said.<\/p>\n

Speaking to Cointelegraph\u2019s Sam Bourgi at the Blockchain Futurist Conference in Toronto, Greenberg had positive things to say about the Canadian regulatory environment:<\/p>\n

\u201cThe Canadian regulators have been collaborative, helpful. [\u2026] There\u2019s a clear regulatory pathway. It\u2019s allowed us to invest in the country.\u201d<\/p><\/blockquote>\n

Kraken has a staff of over 250 in Canada, Greenberg said. That strong base has been key to the company\u2019s success in the country. After registration rules for crypto exchanges were tightened in Canada in February<\/a> by the Canadian Securities Administrators, requiring them to register as restricted dealers, some exchanges, such as OKX, left the country<\/a>. <\/p>\n

Related: Coinbase VP says Canada can be a \u2018global leader\u2019 in crypto<\/a><\/em><\/strong><\/p>\n

\u201cIt\u2019s not the easiest thing to meet those requirements,\u201d Greenberg said, \u201cespecially for smaller platforms [\u2026] that just weren\u2019t able to put that kind of energy against it.\u201d <\/p>\n

Kraken, however, reiterated its commitment to Canada, where it has been operating with money service business registration since 2011. \u201cIt took a lot of work for us,\u201d Greenberg continued. \u201cWe\u2019re lucky in that we have a great user base here in Canada, and we were able to make those costs work.\u201d<\/p>\n

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“We need to solve the fraud problem, we need to solve scams, and we need to stop talking about it as a crypto-specific issue.”<\/p>\n

On his panel at the @Futurist_conf<\/a>, Kraken MD of Canada @marklg<\/a> spoke about the importance of addressing fraud in the financial world.#Futurist23<\/a> pic.twitter.com\/UdP5Z56alx<\/a><\/p>\n

\u2014 Kraken Exchange (@krakenfx) August 16, 2023<\/a><\/p><\/blockquote>\n

On-ramps and off-ramps remain challenging. The five major banks in Canada \u201chave typically been relatively hostile to crypto,\u201d according to Greenberg. It is possible to make fiat payments to crypto exchanges or receive fiat from them in person at Canada Post. In addition, Kraken has partnered with the Canadian payment service Payper to provide instant e-money transfers of up to 3,000 Canadian dollars. <\/p>\n

\u201cWe have many rails we hope to build over the coming months and years,\u201d Greenberg said.<\/p>\n

Magazine: Your guide to crypto in Toronto: Crypto City<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Size and energy allowed Kraken to stay in Canada after the imposition of new registration requirements for crypto exchanges in February. But in spite of the demanding process, the regulatory clarity has benefited the company, Kraken managing director for Canada Mark Greenberg said. Speaking to Cointelegraph\u2019s Sam Bourgi at the Blockchain Futurist Conference in Toronto, […]<\/p>\n","protected":false},"author":2,"featured_media":138113,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-138112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138112"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138112\/revisions"}],"predecessor-version":[{"id":148196,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138112\/revisions\/148196"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138113"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}