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The post Kraken Arbitration Win Highlights Regulatory Challenges appeared on BitcoinEthereumNews.com. Kraken’s parent company just turned years of regulatory frustration into a $22 million arbitration win — and the story behind it exposes just how much damage the Biden-era crackdown on crypto quietly inflicted on the industry. Key takeaways Payward, Kraken’s parent company, won a $22 million arbitration award against auditor Mazars USA after the firm abandoned a nearly complete audit in 2022. Mazars halted the audit just days before completion, citing legal uncertainty including an SEC complaint against Kraken — a complaint later dismissed after Gary Gensler resigned. The arbitrator found that Mazars’ withdrawal created a “licensing crisis” for Kraken, affecting its ability to obtain state money transmitter licenses; $12.5 million of the award relates to Kraken’s acquisition of TradeStation Crypto. Operation Choke Point 2.0 — the Biden administration’s unofficial campaign pressuring ba
Read full articleA SpaceX-Tesla merger could revolutionize industries but faces regulatory challenges, impacting market dynamics and investor strategies. The post JPMorgan sees SpaceX-Tesla merger as strategically coherent despite hurdles appeared first on Crypto Briefing.
FIFA's governance scrutiny could destabilize its crypto partnerships, impacting investor confidence and potentially triggering regulatory actions. The post Trump’s FIFA intervention puts spotlight on the organization’s crypto partnerships with Kraken and Avalanche appeared first on Crypto Briefing.
The halt at AscendEX underscores the growing regulatory challenges for crypto exchanges, potentially impacting market confidence and asset stability. The post AscendEX halts operations, freezes withdrawals amid EU MiCA regulation appeared first on Crypto Briefing.
BNB Chain's dominance in stablecoin transactions enhances DeFi growth but faces potential regulatory challenges impacting future expansion. The post BNB Chain processes 5.3B stablecoin transactions, leads in user growth appeared first on Crypto Briefing.
Major banks' interest in acquiring Fiserv's STAR network highlights potential shifts in transaction fee structures and regulatory challenges. The post JPMorgan and major banks eye $15B Fiserv debit network as payments sector struggles appeared first on Crypto Briefing.
The post Kraken Wins $22M From Auditor That Abandoned It During Operation Choke Point 2.0 appeared on BitcoinEthereumNews.com. In brief An arbitrator awarded Payward, Kraken’s parent company, $22 million after it sued former auditor Mazars USA for quitting a nearly complete audit, the exchange said in a blog post. Co-CEO Arjun Sethi said Mazars cited legal uncertainty around the SEC’s since-dismissed case against Kraken when it withdrew, and alleged the firm had been pressured to drop the industry. Payward is asking the Delaware Court of Chancery to enter final judgment on the award, and Sethi used the letter to press for passage of the Clarity Act. Kraken’s parent company, Payward, has won a $22 million arbitration award against its former auditor, Mazars USA, which walked away from a nearly finished audit, the crypto exchange said in a blog post on Tuesday. Payward is now asking the Delaware Court of Chancery to enter final judgment on the award, in an open letter from co-CEO Arjun S
The crypto exchange says an arbitrator sided with it after accounting firm Mazars walked away from a nearly finished audit.
The post Crypto Exchange Kraken Is Going After a Full Banking License in Europe appeared on BitcoinEthereumNews.com. Key highlights: Kraken wants to have a bank in Europe This would make it the only crypto exchange with a license in the EU The update comes as MiCA rules become fully enforced The European crypto market is developing fast, and a major exchange has decided to take it up a notch. The Kraken crypto exchange is now pursuing a full banking license in Europe, and Lithuania has been named as the preferred country for securing this approval. The development comes as the European Union is introducing stricter regulations for crypto companies under its Markets in Crypto-Assets Regulation (MiCA). Many firms failed to secure this license. For example, Binance, which has started to shut down operations in the region. Meanwhile, some are looking for ways to strengthen their position in the region. Kraken pushes for a banking license Kraken is now actively pushing to conduct banking o
