Kraken’s chief legal officer Marco Santori says crypto assets on his exchange undergo a multi-pronged compliance, cybersecurity and legal review process before being listed for trading.
Santori explains in a new interview with Real Vision Crypto that Kraken weeds through thousands of crypto assets and chooses to support “only a few” tokens.
“We do that via a few different methods. One is, of course, the business case. Do we believe there’s actual interest from our users in this asset? Once that has been established — and that, by far, is the greatest filter that we have on new assets — then the asset undergoes a robust compliance review, where the asset is reviewed for compliance with sanctions laws, for politically exposed persons (PEPs) being involved in the project.
We then review it for cybersecurity. We look at the asset to ensure it meets our standards for the thing being a token that works on a network. We don’t want to support a token that our own implementation would fail for. And then it goes to legal review.”
One of the steps of that legal review is ensuring that the token is not a security, according to Santori.
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The post Here’s What It Takes To Get Listed on Kraken, According to the Crypto Exchange’s Chief Legal Officer appeared first on The Daily Hodl.
