While KuCoin has already paid a fine of $41K and resumed operations in India, Binance is yet to complete compliance proceedings.
Kraken is a cryptocurrency exchange that provides spot and futures trading between Bitcoin, Ethereum and 40+ other digital assets.
Kraken is a United States-based cryptocurrency exchange and bank, founded in 2011. The exchange provides cryptocurrency-to-fiat-money trading, and provides price information to Bloomberg Terminal. As of 2020, Kraken is available to residents of 48 US states and 176 countries, and lists 40 cryptocurrencies available for trade. The company played a role in attempting to recover funds lost by investors during the 2014-15 Mt. Gox bankruptcy. According to CoinMarketCap, Kraken is the fourth-largest cryptocurrency exchange in the world (as of January 2021). In 2020, Kraken became, along with Avanti Financial Group, one of the first two crypto exchanges to be legally chartered as banks in the United States (both in Wyoming).
While KuCoin has already paid a fine of $41K and resumed operations in India, Binance is yet to complete compliance proceedings.
Kraken contends the SEC interpretation of the Howey Test and asks the court to dismiss the case against the exchange.
Steingraber stated that while the price of XRP is currently determined by supply and demand on exchanges, traditional finance institutions such as Bank of America are restricted from using the asset due to regulatory requirements