Get Custom Quotes, Info & More from Multiple Providers At Once.

Kraken Commits To Canada As It Files Pre-Registration Undertaking With OSC To Become A Restricted Dealer

March 30, 2023 - Crypto exchange Kraken has taken a significant step in demonstrating its commitment to regulatory compliance in Canada by filing pre-registration with the Ontario Securities Commission (OSC) as it works towards becoming a registered Restricted Dealer across Canada. This undertaking demonstrates Kraken’s commitment to comply with the Canadian Securities Administrators’ recently enhanced investor protection guidance.

 This development comes amid a period of regulatory change for the Canadian cryptocurrency landscape, with some major players, like Coinbase, aiming to maintain their presence, while others, like Binance, are considering exiting the market. The Canadian Securities Administrators (CSA) announced back in December 2022 that it is strengthening its oversight of crypto trading platforms post the collapse of FTX.

Part of the requirements of crypto firms ooperating within Canada, even if based outside of the country, are required to, "comply with expanded terms and conditions that will include, among other things, requirements to hold Canadian clients' assets with an appropriate custodian and segregate these assets from the platform's proprietary business, as well as a prohibition on offering margin or leverage for any Canadian client."

“Custodians will generally be considered qualified if they are regulated by a financial regulator in Canada, the U.S., or a similar jurisdiction with a supervisory regime for conduct and financial regulation.”

“Canada as a geography is critical to our mission to empower people with new ways to connect and transact,” said David Ripley, Kraken’s Chief Operating Officer and incoming CEO. “Trading platforms that prioritize compliance and secure trading experiences will have more success advocating for crypto’s economic benefits and transformative potential for crypto traders and investors.”

Kraken is an industry-leading digital asset platform that has served Canadian clients for over 10 years. With over 250 team members based in Canada - making it one of the largest crypto employers in the country - Kraken provides a customizable trading experience for all levels of Canadian crypto traders. Kraken has been registered as a money services business in Canada with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) since 2019.

The platform offers more than 175 digital assets to trade on a global spot market through its mobile app and online trading platform. Kraken clients can take advantage of five CAD trading pairs, transparent fees and tight trading spreads. The platform also offers direct access to Canadian order books ensuring one of the fastest and most seamless crypto trading experiences in Canada today.

Over the coming months, Kraken will be making certain changes to services in Canada and will notify clients prior to any changes that will impact trading experience.

Kraken is one of the world’s longest-standing digital asset platforms. Globally, Kraken’s client base trades more than 200 digital assets and 6 different fiat currencies, including GBP, EUR, USD, CAD, CHF and AUD.

Kraken, over 2,000 strong, was founded in 2011, and is used by over 10 million clients worldwide with round-the-clock online support. As part of Kraken’s high bar for transparency and earning its clients’ trust, it was the first company to conduct Proof of Reserves audits.

Kraken is backed by investors including Tribe Capital, SkyBridge, Hummingbird Ventures, Blockchain Capital, Digital Currency Group, among others.

Require Some Guidance in Finding The Right Provider?

Let One of Our Experts Help!

Use the LiquidityFinder Match Matrix to find the right provider for your electrionic trading business!

Get Started


LiquidityFinder was created to take the friction out of the process of sourcing Business to Business (B2B) liquidity; to become the central reference point for liquidity in OTC electronic markets, and the means to access them. Our mission is to provide streamlined modern solutions and share valuable insight and knowledge that benefit our users.

If you would like to contribute to our website or wish to contact us, please click here or you can email us directly at

Be First To Comment.
Featured News on LiquidityFinder
Latest News on LiquidityFinder

To personalize content, provide a optimal experience, tailor and measure engagement; the browsing, navigating and the continous use of this website means you agree to the Terms of Service, Privacy Policy & Security Policy of this website. Your choices on this website will be applied globally throughout the website.

LiquidityFinder & Our Partners

Your behavior, data and actions may be utilized to offer you optimal connections and services by approved and suitable providers fitting your account requirements and website actions. When contacting providers or initiating a provider request, match matrix or expert match review we may share necessary data to evaluate your compatability with our connected partners and suitable providers.