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Kraken Files Formal Response to Last-Minute US Government Crypto Rulemaking

Kraken recently warned of the deficiencies in a proposed U.S. government rulemaking. Today, Kraken is publishing its official response.

Kraken believes the proposed rule would be bad for America and for the world. It would be a substantial departure from existing law. It would require enormous ongoing expenditure of resources by exchanges.

It would cut off the poor from critical money flows. It fails to consider even the most basic costs or timing of implementation. It virtually guarantees that the evidence available to law enforcement today will be placed outside their reach tomorrow.

You can read it in full below. Please consider submitting your own comment, even if it is brief, to the government.

You can do so quickly and easily online here.