UK’s FCA blacklisted major crypto exchange Kraken

Kraken may be one of the largest exchanges in the cryptocurrency industry, but that did not stop the British regulator Financial Conduct Authority (FCA) from blacklisting it in the UK for providing financial services in the country without its authorization.

The FCA issued a fairly standard warning that lists the domain of the offending party, some email addresses and phone numbers that allegedly belong to Kraken. The domain was correct, but Kraken claims that those emails and phone numbers are not theirs, which is a strange detail to get wrong – and also a strange detail to deny in case it is not actually wrong.

Kraken also clarified that its futures trading platform called CryptoFacilities is already registered in the UK.

It would be interesting to see how this incident gets resolved eventually. Also, I am sure Kraken is not the only big crypto-exchange operating in that jurisdiction, why did the FCA target them specifically?

I remember it took a good while for them to approve my registration, but I have yet to even use them, probably will never use them to be honest

Because of that blacklisting or because of something else?

this was back in like 2018, but I think it was because they were getting so many requests at the time. This was around the time when bitcoin was all over the news and everyone started hopping in on it

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Oh, I see. Thank you for clarifying!