Kraken, a popular cryptocurrency exchange, has announced that it will suspend transactions involving several digital assets in Canada. The affected assets include USDT, DAI, WBTC, WETH, and WAXL. The decision comes in response to recent regulatory changes in Canada and after consultations with regulatory authorities. Kraken emphasized its commitment to meeting compliance standards and providing an exceptional trading experience for its Canadian clients. The suspension of these assets follows similar actions taken by other exchanges throughout 2023. Coinbase and Crypto.com, for example, have already ceased trading certain assets due to regulatory challenges. It is worth noting that some exchanges have even withdrawn from the Canadian market entirely. However, Kraken will continue its operations in Canada and will only be suspending transactions related to the five specified assets. The suspension will take effect on November 30th, with deposits and trading functions ceasing, and on December 4th, users will no longer be able to perform withdrawals. Any remaining assets will be converted to U.S. dollars at the prevailing market rate and credited to users’ accounts on December 5th. In other news, Kraken has recently appointed a new managing director for its U.K. operations, Bivu Das, who brings extensive experience in fintech and traditional financial services.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇨🇦 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | OKX, Coinbase, Crypto.com, Kraken, Binance |
| Currencies | WAX, Bridged Wrapped Ether, Tether, Wrapped Bitcoin, Dai |
| Securities | None |
