The cryptocurrency exchange Kraken has officially registered as a restricted dealer in Canada, enabling it to continue providing crypto trading services to users in the country amid its shifting regulatory landscape.
This registration, announced on Tuesday, is the result of a lengthy process that has required exchanges to adhere to stricter investor protection and governance standards. Kraken has stated that it collaborated closely with Canadian regulatory bodies during this pre-registration period, enhancing its compliance measures and internal controls to align with the expectations of the Ontario Securities Commission (OSC).
To spearhead its growth in Canada, Kraken has appointed Cynthia Del Pozo as the general manager for North America. A seasoned professional in fintech and operations, Del Pozo will direct the company’s strategy, regulatory interactions, and business development efforts throughout the region.
“Canada is currently at a pivotal moment for crypto adoption,” Del Pozo remarked, highlighting the increasing interest from both retail and institutional investors. A recent survey shared by Kraken indicated that 30% of Canadian investors are now holding crypto assets.
Additionally, Kraken has revealed that it will provide free Interac e-Transfer deposits for its Canadian users, designed to lower barriers for newcomers to the platform. The exchange claims to have doubled both its team and user base in the country over the past two years, managing over $2 billion CAD in client assets.
Mayur Gupta, Kraken’s chief marketing officer and general manager of growth, is scheduled to speak at CoinDesk’s Consensus 2025 event in Toronto on May 14-15.
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