Kraken secures restricted dealer registration in Canada

Replace (April 2, 1:50 pm UTC): This text has been up to date so as to add official registration information from the Ontario Securities Fee.

Cryptocurrency trade Kraken obtained a brand new registration in Canada as its newest compliance milestone.

Kraken secured a restricted dealer registration from the Ontario Securities Fee (OSC) on April 1, according to official information on the OSC web site.

The registration reaffirms Kraken’s dedication to serving Canadian buyers as its platform now has greater than $2 billion Canadian {dollars} ($1.4 billion) in mixed property below custody.

Along with the registration, Kraken introduced the appointment of Cynthia Del Pozo as basic supervisor for North America. Earlier than becoming a member of Kraken in 2025, Del Pozo served as head of technique on the Winklevoss twins’ Gemini, which exited the Canadian market in late 2024.

Restricted dealer registration is topic to particular necessities

According to the Canadian Securities Directors (CSA), restricted dealer registration is among the eight-firm registration sorts in Canada, telling buyers what services they will supply.

Not like an funding dealer or funding fund supervisor, restricted dealer registration is a particular classification used for corporations that “don’t fairly match below every other class” and is topic to particular necessities or circumstances by securities regulators.

Within the announcement, Kraken stated that the registration allows its Canadian shoppers to learn from a strong regulatory basis, guaranteeing that its platform is supervised by the OSC.

Rival Gemini trade exited Canada in late 2024

Kraken’s strengthening dedication to the Canadian market comes months after rival Gemini trade departed from the nation earlier than the top of 2024.

Gemini’s abrupt exit from Canada was sudden by many, raising questions about the clarity of cryptocurrency regulation insurance policies in the nation.

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Kraken’s new North American basic supervisor, Del Pozo, spent three years working at Gemini Canada, along with her most up-to-date place as head of technique and company improvement, according to her LinkedIn profile.

Regardless of Gemini’s shutdown in Canada, Del Pozo is optimistic in regards to the state of the native crypto market.

“Canada is at a turning level for crypto adoption, with a rising variety of buyers and establishments recognizing digital property as a significant a part of the monetary future,” she stated in the announcement, including:

“I’m thrilled to affix Kraken’s mission at this vital second, and to steer our growth efforts, guaranteeing we proceed to serve our shoppers long-term with modern and compliant merchandise.”

Kraken’s newest registration in Canada marks one other milestone in the lengthy story of the corporate in the jurisdiction.

According to a weblog publish by the trade, Kraken’s Canada journey started in 2011 with the launch of CaVirtEx, an early native crypto buying and selling platform based mostly in Calgary, which Kraken acquired later in 2016.

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