when

<ul>
 <li>The acquisition is a component of Kraken’s strategy to expand its footprint in the U.S.</li>
 <li>TradeStation has money transmitting licenses from over 40 states in the U.S.</li>
</ul>
<a href="https://thenewscrypto.com/kraken-unveils-new-multi-blockchain-self-custodial-mobile-wallet/" target="_blank" rel="noopener noreferrer nofollow">Kraken</a>, a cryptocurrency exchange, has acquired TradeStation Crypto, boosting its regulatory license in the U.S. <a href="https://www.tradestation.com/" target="_blank" rel="noopener noreferrer nofollow">TradeStation Group</a>, a division of Monex Group, has a digital assets subsidiary called TradeStation Crypto.
The acquisition is a component of Kraken’s strategy to expand its footprint in the US, according to a company representative. Additionally, he spoke highly of the acquisition’s potential to open doors to new product prospects and increased growth for Kraken in the American market.
<h3 class="wp-block-heading" id="h-strategic-acquisition">Strategic Acquisition</h3>
Moreover, the acquisition of TradeStation is a major coup for Kraken since TradeStation has money transmitting licenses from over 40 states in the US. But earlier this year, the crypto broker ran into trouble when it was fined $3 million by the U.S SEC for selling crypto-lending products that weren’t registered.
The TradeStation program, which allowed users to earn interest on cryptocurrency deposits, was deemed a security by the SEC. The Florida-based business was therefore unable in obtaining the necessary federal registration. The result was an intervention by the SEC, which resulted in the suspension of service around two years ago.
It is worth mentioning that the U.S <a href="https://thenewscrypto.com/lawsuit-challenges-secs-cat-system-over-data-privacy-and-legal-grounds/" target="_blank" rel="noopener noreferrer nofollow">SEC</a> and the North American Securities Administrators Association (<a href="https://www.nasaa.org/" target="_blank" rel="noopener noreferrer nofollow">NASAA</a>) reached a settlement for a fine of $3 million. The parent company, TradeStation, announced its exit from the cryptocurrency market in response to this damage.
A key component of Francis Suarez’s plan to turn Miami into a crypto center was TradeStation. The 11-foot-tall, 3,000-pound sculpture known as Miami Bull, which was revealed by Suarez, was commissioned by the business.
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Kraken Acquires TradeStation Crypto, Boosting U.S. Regulatory Footprint

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