Kraken to Enter European Market

Kraken is a San Francisco-based cryptocurrency that is planning to enter the European market by the end of this year. Kraken is one of the major digital asset exchanges in the United States. The exchange is still in talks with supervisory bodies on the Old Continent. Thus no final decision has been reached. The daily transaction volume according to the data of Coingecko are provided was $1.3Billion.

Jesse Powell made it clear that Germany was not the greatest location for Kraken to be situated in Europe. The exchange has also spoken with Bafin, but the German regulations, according to the exchange, are "too complex, too restrictive". This shows that complying would be prohibitively expensive for the company.

It is no longer possible after Brexit, despite having the strongest regulator in the world. Financial institutions are regulated by the Financial Conduct Authority, which is a regulatory authority.

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