Cryptocurrency exchange Kraken has obtained a new registration in Canada as its latest compliance milestone.
Kraken secured a restricted dealer registration from the Ontario Securities Commission (OSC) last Tuesday, April 1. The relevant information is available on the official OSC website.
The mentioned registration confirms the commitment of the cryptocurrency exchange to serving Canadian investors. The Kraken platform currently holds over 2 billion Canadian dollars (US$1.4 billion) in combined assets.
Against the background of receiving registration, the cryptocurrency exchange announced the appointment of Cynthia Del Pozo as general manager for North America, who served as head of strategy at the Winklevoss twins’ Gemini, which exited the Canadian market in late 2024.
According to the Canadian Securities Administrators (CSA), restricted dealer registration is one of eight types of company registration in a given country. The type of registration determines which products and services firms can offer to consumers.
Unlike an investment dealer or investment fund manager, restricted dealer registration is a special classification used for companies that do not exactly correspond to any other category, and which are subject to special requirements or conditions of securities regulators.
Kraken said the registration enables its Canadian customers to benefit from a solid regulatory foundation, ensuring that its platform is supervised by the OSC.
The strengthening of the cryptocurrency exchange’s position in the Canadian market was recorded several months after its competitor Gemini departed from the country before the end of 2024.
Gemini’s sudden departure from Canada came as a surprise to many. Against this background, questions about the clarity of policies governing cryptocurrencies in the country have intensified.
Cynthia Del Pozo spent three years working at Gemini Canada, with her most recent position as head of strategy and corporate development. The relevant information is contained in her LinkedIn profile.
Despite Gemini’s shutdown in Canada, Cynthia Del Pozo is optimistic about the condition of the local cryptocurrency market. According to her, the mentioned country is currently at a turning point in the adoption of digital currencies, and an increasing number of investors and institutions recognize virtual assets as a vital part of the financial future. According to her, she is thrilled to join Kraken at the current critical moment and to lead the expansion efforts, ensuring that customers are provided with innovative and compliant products in the long term.
The latest registration of a cryptocurrency exchange in Canada is another milestone in its long history in the relevant jurisdiction.
According to a Kraken blog post, the company’s journey to Canada began in 2011. The initial stage of the relevant presence story was the launch of CaVirtEx, an early local cryptocurrency trading platform based in Calgary.
Kraken stated that its Canadian operations have been growing exponentially over the past two years. Against this background, the commitment of the cryptocurrency exchange to the mentioned country’s market has significantly strengthened.
As we have reported earlier, Kraken Aims to Dismiss SEC Suit to Avoid Dangerous Precedent.
