Kraken’s chief legal officer Marco Santori says crypto assets on its exchange go through a multiple compliance, cybersecurity and legal review process before being listed for trading.
Santori explains in a new interview with Real Vision Crypto that Kraken sifts through thousands of crypto assets and chooses to support “just a few” tokens.
“We do that in different ways. One of them, of course, is the business case. Do we believe there is actual interest from our users in this item? Once that is established – which is by far the best filter we have on new assets – the asset undergoes a thorough compliance review, where the asset is assessed for compliance with sanctions laws, for Politically Exposed Persons (PEPs) involved in the project.
We then review it for cybersecurity. We look at the asset to make sure it meets our standards for 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 the legal review.”
One of the steps of that legal review is to make sure the token isn’t security, Santori said.
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