Kraken Arbitration Win Highlights Regulatory Challenges
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