Kraken to Refuse to Answer NY's Attorney General's Inquiry

Kraken was one of 13 exchanges that received a letter from New York Attorney General as part of his new inquiry into cryptocurrency exchanges
19 April 2018   1192

Kraken does not intend to respond to the request of the Attorney General of the State of New York. This is reported by Coindesk.

Kraken was among the 13 exchanges that received a letter from Eric Schneiderman. Although most of the trading platforms supported the initiative of the attorney, Kraken decided to take a different position from them.

Kraken's BitLicense-prompted exit from New York in 2015 pays another dividend today. I realized that we made the wise decision to get the hell out of New York three years ago and that we can dodge this bullet.
 

Jesse Powell

CEO, Kraken

Kraken left New York in 2015 due to the fact that this state adopted a set of rules for crypto-currency companies called BitLicense. The Exchange called the ruling "a creature so foul, so cruel that not even Kraken possesses the courage or strength to face its nasty, big, pointy teeth."

Powell added that Kraken is ready to cooperate with the government, but condemns Schneiderman's approach.

Why don't you try extracting this information from those businesses actually operating in your state?
 

Jesse Powell

CEO, Kraken

Attorney's spokeperson provided a comment:

Legitimate entities generally like to demonstrate to their investors that their money will be protected. This is basic information that credible platforms should all have on hand.
 

 Attorney General's office spokeperson

The set of BitLicense rules turned out to be ineffective, as most crypto-currency companies found it inadequate and simply refused to continue operatng in New York. In February, lawmakers raised the issue of revising or even completely abolishing BitLicense.

Kraken to Acquired Bit Trade

Bit Trade is the oldest Australian exchange, so, thanks to the deal, Kraken expects to strengthen its presence in the Asia-Pacific region
15 January 2020   130

The American bitcoin exchange Kraken announced the acquisition of the Australian Bit Trade crypto-trading platform, founded in 2013.

Thanks to the deal, Kraken expects to strengthen its presence in the Asia-Pacific region and become the largest cryptocurrency service in Australia. Last month, the exchange acquired an OTC platform of Circle.

Kraken also believes that the acquisition will strengthen its position in the field of over-the-counter cryptocurrency trading. 

Kraken intends to offer institutional and retail customers a single interface across multiple trading platforms.

In the short term, Bit Trade will continue under its current brand and operate business as usual.  As part of the acquisition we are pleased to welcome the Bit Trade team led by Jonathon Miller who will be Managing Director for Kraken in Australia.
 

Kraken

The representative of the exchange said that in the short term, Bit Trade will continue to work under its brand.