Crypto exchange Kraken pledges to comply with tighter rules in Canada

Cryptocurrency exchange Kraken has filed a pre-registration undertaking with the Ontario Securities Commission as it seeks to become a registered Restricted Dealer across Canada, according to a Thursday blog post. The PRU filing signals the company's long-term commitment to abiding by recently enhanced investor protection guidance set out by the Canadian Securities Administrator. Last month, the CSA set a deadline for crypto platforms to commit to enhanced PRUs if they wanted to stay in Canada. The CSA's move to tighten its crypto-trading rules also reportedly led fellow exchange Coinbase Global ( COIN ) to talk with regulators about securing the appropriate license to continue operating in Canada. Crypto giant Binance is also seeking registration, while Blockchain.com confirmed that it will pull out. Kraken, which currently employs 250 Canadians, supports CAD spot pairs and said it will make some unspecified changes to its services in the country. At the beginning of March, Kraken said it will stop using Signature Bank, which failed on March 12, for dollar deposits and withdrawals .