Kraken secures restricted dealer registration in Canada

Cryptocurrency speech Kraken has obtained a caller registration successful Canada astatine its latest compliance milestone.

Kraken has received a restricted trader registration successful Canada, reaffirming its committedness to serving Canadian investors, the institution said successful an announcement shared with Cointelegraph connected April 2.

The registration comes arsenic Kraken handles much than $2 cardinal successful Canadian dollars ($1.4 billion) combined assets nether custody for its Canadian users.

In conjunction with the registration, Kraken announced the assignment of Cynthia Del Pozo arsenic the caller wide manager for North America. Before joining Kraken successful 2025, Del Pozo served arsenic caput of strategy astatine Winklevoss twins’ Gemini, which exited the Canadian market successful precocious 2024.

Restricted trader registration is taxable to circumstantial requirements

According to the Canadian Securities Administrators (CSA), restricted trader registration is 1 of the eight-firm registration types successful Canada, telling investors what products and services they tin offer.

Unlike an concern trader oregon concern money manager, restricted trader registration is simply a peculiar registration utilized for firms that “do not rather acceptable nether immoderate different category” and is taxable to circumstantial requirements oregon conditions by securities regulators.

An excerpt from the CSA’s steadfast and idiosyncratic registration types explainer. Source: CSA

In the announcement, Kraken said that the registration enables its Canadian clients to payment from a coagulated regulatory foundation, ensuring that its level is supervised by the Ontario Securities Commission (OSC).

Rival Gemini speech exited Canada successful precocious 2024

Kraken’s strengthening committedness to the Canadian marketplace comes months aft rival Gemini speech departed from the state by the extremity of 2024.

Gemini’s abrupt exit from Canada was unexpected to many, raising questions astir the clarity of cryptocurrency regularisation policies successful the country.

Kraken’s caller North America wide manager, Del Pozo, spent 3 years moving astatine Gemini Canada, with the astir caller presumption arsenic caput of strategy and firm development, according to her LinkedIn profile.

An excerpt from Cynthia Del Pozo’s LinkedIn profile. Source: LinkedIn

Despite Gemini’s shutdown successful Canada, Del Pozo is optimistic astir the authorities of the section crypto market.

“Canada is astatine a turning constituent for crypto adoption, with a increasing fig of investors and institutions recognizing integer assets arsenic a captious portion of the fiscal future,” she said successful the announcement, adding:

“I’m thrilled to articulation Kraken’s ngo astatine this captious moment, and to pb our enlargement efforts, ensuring we proceed to service our clients semipermanent with innovative and compliant products,” said Cynthia Del Pozo, Kraken’s General Manager for North America.”

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