Crypto Biz: Kraken offers stock trading as exchanges adapt to changing regulations

cointelegraph.com:

Cryptocurrency exchanges are adopting alternative strategies to conduct business in the face of tighter crypto regulatory environments worldwide. Signs are everywhere.

Kraken is reportedly moving to offer securities trading in the United States and the United Kingdom to expand its reach and compete with popular apps like Robinhood, which offer both crypto and stock trading. On the other hand, Gemini is expanding its presence in India with a $24 million investment in its development center.

Another challenge for crypto exchanges has been licensing and communication with regulators. Binance reopened its branch in Belgium this week after a three-month hiatus in the country due to problems with local regulators.

Kraken has also expanded its European licenses, and it now provides euro-to-crypto trading services in 27 European Union member states and European Economic Area countries. As crypto regulations evolve, exchanges are adapting to incorporate the practices of a new era.

This week’s Crypto Biz explores Kraken’s securities arm, Gemini’s expansion in India, Binance’s return to Belgium and an oil company in Argentina investing in crypto mining.

Kraken reportedly plans to offer trading services for stocks and exchange-traded funds listed in the United States. The crypto exchange intends to launch its trading services in the U.S. and U.K. in 2024 through a new division called Kraken Securities. The expansion beyond cryptocurrencies would require licensing from the Financial Industry Regulatory Authority and financial regulators in the U.K., which the exchange reportedly already holds. Meanwhile, in Europe, Kraken received an Electronic Money Institution license from the Central Bank of Ireland and a virtual asset service