- Kraken maintains its position in Canada after obtaining restricted dealer registration from the Ontario Securities Commission to support investors.
- Kraken selected Cynthia Del Pozo to lead its North American business operations as general manager.
- Since 2011, Kraken has dedicated itself to the Canadian market by increasing its local operations.
Kraken, a prominent crypto exchange, gained a major regulatory win amid one of the most competitive markets in the world for crypto by being granted a new registration.
The OSC website official records show that Kraken received a restricted dealer’s registration on April 1 from the Ontario Securities Commission. It means the exchange can now continue operating and provide services for Canadian investors while its platform now has combined assets under custody of more than 2 billion Canadian dollars ($1.4 billion).
Kraken has also announced that its new general manager for North America is Cynthia Del Pozo, alongside the approval. In 2025, Del Pozo joined Kraken and was recently head of strategy at Gemini.
Understanding Restricted Dealer Registration
Restricted Dealer registration is one of the eight firm registration types as classified by the Canadian Securities Administrators (CSA). This designation gives investors information about the products and services a firm is licensed to provide.
Unlike in the case of investment dealers or investment fund managers, firms in the restricted dealer category don’t belong to any conventional categories. Therefore, they take place under special circumstances and compliance to Canadian securities authorities conditions and rules.
Kraken’s latest registration serves as the latest of its latest efforts to beef up its presence in the Canadian market while also playing by the nation’s fast changing regulatory rules.
According to its announcement, having achieved restricted dealer registration, cryptocurrency exchange Kraken noted that its clients in Canada have a strong regulatory foundation. It said it was pleased that the approval would ensure that its platform remains reviewed by the Ontario Securities Commission (OSC) and that the entire platform remains under the oversight of a regulator.
Gemini’s Departure Raises Regulatory Concerns
Recently, the rival cryptocurrency exchange Gemini left the country in late 2024. Cynthia Del Pozo, who takes the reins as general manager for North America at Kraken, based in San Francisco, has prior experience from Gemini, which she joined three years ago and where she was the head of strategy and corporate development. Although Gemini exited, Del Pozo is confident that the opportunities around Canada’s crypto market and its growing regulatory environment will be able to make it thrive.
Kraken’s Longstanding Presence in Canada
Another milestone in the registration history of Kraken as a sign of lasting dedication to the Canadian market. Kraken’s path in the country goes back to 2011 when CaVirtEx, an early crypto trading platform on its feet in Calgary, was launched. It was later when Kraken acquired CaVirtEx in 2016, adding to its presence in the region.
As one of the leading players in Canada’s crypto ecosystem, Kraken’s new regulatory status and strategic leadership will continue to help it establish itself as a leading player in terms of navigating Canada’s regulations as it expands its services to local investors.
