Proposed Securities Framework Wrong for Regulating Crypto Exchanges, Argues Kraken

News

Kraken argues against proposed regulation of crypto by Canadian securities entities. Canadian exchange Kraken has published a paper arguing against proposed regulation of crypto assets by the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC). The exchange shared its comments in an official twitter post on May 16.Kraken says that the proposed framework considers the contractual arrangement between an exchange and an exchange user as a security. Kraken denies that these contracts constitute securities:“…most reputable exchanges operate as custodians or bailees. As such, the assets are legally owned by the customer and not the Exchange…
Click Title Below To Read Details From Source:
Proposed Securities Framework Wrong for Regulating Crypto Exchanges, Argues Kraken

Leave a Reply

Your email address will not be published. Required fields are marked *