Kraken secures restricted dealer registration in Canada

Update (April 2, 1:50 pm UTC): This article has been updated to add official registration data from the Ontario Securities Commission.

Cryptocurrency exchange Kraken obtained a new registration in Canada as its latest compliance milestone.

Kraken secured a restricted dealer registration from the Ontario Securities Commission (OSC) on April 1, according to official data on the OSC website.

The registration reaffirms Kraken’s commitment to serving Canadian investors as its platform now has more than $2 billion Canadian dollars ($1.4 billion) in combined assets under custody.

An excerpt from the list of crypto asset trading platforms registered with the OSC. Source: OSC

In conjunction with the registration, Kraken announced the appointment of Cynthia Del Pozo as general manager for North America. Before joining Kraken in 2025, Del Pozo served as head of strategy at the Winklevoss twins’ Gemini, which exited the Canadian market in late 2024.

According to the Canadian Securities Administrators (CSA), restricted dealer registration is one of the eight-firm registration types in Canada, telling investors what products and services they can offer.

Unlike an investment dealer or investment fund manager, restricted dealer registration is a special classification used for firms that “do not quite fit under any other category” and is subject to specific requirements or conditions by securities regulators.

An excerpt from the CSA’s firm and individual registration types explainer. Source: CSA

In the announcement, Kraken said that the registration enables its Canadian clients to benefit from a solid regulatory foundation, ensuring that its platform is supervised by the OSC.

Kraken’s strengthening commitment to the Canadian market comes months after rival Gemini exchange departed from the country before the end of 2024.

Gemini’s abrupt exit from Canada was unexpected by many, raising questions about the clarity of cryptocurrency regulation policies in the country.

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Kraken’s new North American general manager, Del Pozo, spent three years working at Gemini Canada, with her most recent position as head of strategy and corporate development, according to her LinkedIn profile.

An excerpt from Cynthia Del Pozo’s LinkedIn profile. Source: LinkedIn

Despite Gemini’s shutdown in Canada, Del Pozo is optimistic about the state of the local crypto market.

“Canada is at a turning point for crypto adoption, with a growing number of investors and institutions recognizing digital assets as a vital part of the financial future,” she said in the announcement, adding:

Kraken’s latest registration in Canada marks another milestone in the long story of the company in the jurisdiction.

According to a blog post by the exchange, Kraken’s Canada journey began in 2011 with the launch of CaVirtEx, an early local crypto trading platform based in Calgary, which Kraken acquired later in 2016.

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