A major cryptocurrency exchange, Kraken, is preparing to stop offering trading services in New York, affecting from June 1st, 2024, as per the circulating rumors.
As per one user on the X, Krakenn has unveiled upcoming alterations and limitations for its clients based in the United States, set to take effect from June 1st, 2024. These changes will affect users who do not agree to the new terms of service. This represents a major change in what consumers may access in the state.
The basis of this news is the changing face of Kraken in the US. On June 1, Kraken’s face is changing from Payward Ventures Inc. to Payward Interactive, Inc.
It is rumored that the drastic changes related to Kraken’s ongoing legal battles with the US Securities and Exchange Commission (SEC). In 2023, Kraken settled a $30 million case with the SEC over its crypto staking service, which the regulator deemed an unregistered securities offering
This move underscores Kraken’s strategic adjustments amid evolving regulatory landscapes and its commitment to compliance within the US market.
Also Read: Kraken Acquires TradeStation Crypto for US Expansion
