Crypto News: Troubled crypto exchange, Kraken is reportedly moving towards its idea of launching its own bank. This move by the exchange comes after being charged by U.S. Securities and Exchange Commission (SEC) for failing to register its crypto asset staking program.
As per reports, Marco Santori, Chief Legal Officer of Kraken, in a podcast stated that the Kraken Bank is nearing its launch. He humorously added Kraken is going to order thousands of pens with little ball chains and fix them to the Wall Street banks with a logo.
However, the Kraken on its website has already mentioned that it was planning for its Bank phased launch in 2022. It added that the first services will be provided to the US Kraken clients and then to others. Meanwhile, it’s 2023, and the crypto exchange went on to do a settlement for $30 million with US SEC. Read More Crypto News Here…
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Source: https://coingape.com/crypto-news-kraken-is-planning-to-launch-its-own-bank/