Kraken Sethi Slam FCA Crypto Rules, Dey Look US Expansion

Kraken co-CEO Arjun Sethi don sharp-sharp criticize di UK FCA crypto rules, dem call di 2023 promotion framework too tight and no gree well. Under dis FCA crypto rule dem, platform dem for show risk warnings clear clear and make people answer wetin dem call mandatory “positive friction” questionnaire before retail trade start. Sethi talk say dis one dey slow transaction, dey scare investors, and e block UK clients from more than 75% of di products wey US users get, including yield and DeFi offerings. Di wahala come after FCA ban Coinbase “Everything Is Fine” advert and Bank of England propose to limit how much stablecoin person fit hold. FCA still say di rules na very important protection. Even with all dis palava, Kraken dey plan global growth, dem get plan for list for New York and dem just buy Small Exchange wey CFTC dey regulate for $100 million.