Kraken Chief Legal Officer Drops Bomb News On Crypto

It has been revealed the fact that Kraken’s Chief Legal Officer is drooping important predicitons for the crypto space. Check out the latest reports about this below.

Kraken’s chief legal officer, Marco Santori, is optimistic that the settlement by Binance with the US government will have a positive impact on the digital asset industry.

Binance, the world’s largest cryptocurrency exchange by trading volume, was fined over $4 billion for violating sanctions, engaging in money laundering, and operating an unregistered money-transmitting business.

In a recent interview with CNBC, Santori noted that the settlement of Binance will pave the way for a new era in the crypto industry.

“The industry, the ecosystem, regulators, policymakers, I think, are ready to move forward from the Binance settlement, that’s what settlements do. They set the stage for moving forward into something better.

Binance users, I think, were relieved to find that there were no allegations that money was missing. There were no allegations of insolvency.”

He continued and said:

“There were allegations of violations of financial services laws, which were serious, but thankfully, I think that this is just further evidence of a bright future ahead of crypto and a digital asset ecosystem that’s putting behind it a lot of its darker days.”

Santori commented on how Binance’s settlement could impact the future of cryptocurrency. This comes as the U.S. Securities and Exchange Commission (SEC) filed a lawsuit last month against Kraken for allegedly operating as an unregistered securities exchange, broker, dealer, and clearing agency.

According to Santori, Kraken is closely monitoring a market structure bill known as Fit21, which would regulate companies like Kraken, Coinbase, Gemini, and other similar entities in the United States.

Stay tuned for more news from the crypto space and make sure to keep your eyes on the market as well.