Kraken’s chief authorized officer Marco Santori says crypto property on his alternate endure a multi-pronged compliance, cybersecurity and authorized overview course of earlier than being listed for buying and selling.
Santori explains in a brand new interview with Actual Imaginative and prescient Crypto that Kraken weeds via hundreds of crypto property and chooses to help “just a few” tokens.
“We do this through just a few completely different strategies. One is, after all, the enterprise case. Can we imagine there’s precise curiosity from our customers on this asset? As soon as that has been established — and that, by far, is the best filter that we’ve on new property — then the asset undergoes a strong compliance overview, the place the asset is reviewed for compliance with sanctions legal guidelines, for politically uncovered individuals (PEPs) being concerned within the venture.
We then overview it for cybersecurity. We have a look at the asset to make sure it meets our requirements for the factor being a token that works on a community. We don’t wish to help a token that our personal implementation would fail for. After which it goes to authorized overview.”
One of many steps of that authorized overview is making certain that the token is just not a safety, in line with Santori.
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