Cryptocurrency trade Kraken has obtained a brand new registration in Canada at its newest compliance milestone.
Kraken has obtained a restricted vendor registration in Canada, reaffirming its dedication to serving Canadian traders, the corporate stated in an announcement shared with Cointelegraph on April 2.
The registration comes as Kraken handles greater than $2 billion in Canadian {dollars} ($1.4 billion) mixed property below custody for its Canadian customers.
Along side the registration, Kraken introduced the appointment of Cynthia Del Pozo as the brand new common supervisor for North America. Earlier than becoming a member of Kraken in 2025, Del Pozo served as head of technique at Winklevoss twins’ Gemini, which exited the Canadian market in late 2024.
Restricted vendor registration is topic to particular necessities
In line with the Canadian Securities Directors (CSA), restricted vendor registration is among the eight-firm registration varieties in Canada, telling traders what services and products they’ll supply.
Not like an funding vendor or funding fund supervisor, restricted vendor registration is a particular registration used for companies that “don’t fairly match below another class” and is topic to particular necessities or circumstances by securities regulators.
An excerpt from the CSA’s agency and particular person registration varieties explainer. Supply: CSA
Within the announcement, Kraken stated that the registration permits its Canadian shoppers to profit from a stable regulatory basis, guaranteeing that its platform is supervised by the Ontario Securities Fee (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 by the tip of 2024.
Gemini’s abrupt exit from Canada was surprising to many, elevating questions in regards to the readability of cryptocurrency regulation insurance policies within the nation.
Kraken’s new North America common supervisor, Del Pozo, spent three years working at Gemini Canada, with the latest place as head of technique and company improvement, in line with her LinkedIn profile.
An excerpt from Cynthia Del Pozo’s LinkedIn profile. Supply: LinkedIn
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 traders and establishments recognizing digital property as a significant a part of the monetary future,” she stated within the announcement, including:
“I’m thrilled to hitch Kraken’s mission at this crucial second, and to guide our enlargement efforts, guaranteeing we proceed to serve our shoppers long-term with revolutionary and compliant merchandise,” stated Cynthia Del Pozo, Kraken’s Basic Supervisor for North America.”
Journal: How crypto legal guidelines are altering the world over in 2025