Kraken’s takeover of TradeStation Crypto, the digital asset-focused division of online brokerage TradeStation, expands the cryptocurrency exchange's regulatory licensing in the US.
TradeStation Crypto has acquired money transmitter and other types of regulatory licenses in most US states over the past few years.
However, the crypto broker had a run-in with the US Securities and Exchange Commission over a lending service, which resulted in a USD 3 million settlement. Parent firm TradeStation announced a withdrawal from crypto.
Kraken is expanding in the European Union, too. In recent months leading up to this announcement, Kraken declared the acquisition of Netherlands-based crypto firm BCM and collected a number of virtual asset service provider licenses across the region.
In February 2024, Kraken secured VASP registration from the Dutch Central Bank, advancing its European expansion strategy. This move allows Kraken to tap into the Netherlands' thriving tech and finance sectors, targeting both retail and professional traders across Europe. With a focus on compliance, Kraken aims to cater to the growing demand for crypto solutions in the region.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now