The Block: Kraken's Chief Legal Officer: Banks are shying away from taking on crypto customers

Episode 18 of Season 5 of The Scoop was recorded remotely with The Block's Frank Chaparro and Kraken's Chief Legal Officer Marco Santori.

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Marco Santori is the Chief Legal Officer for Kraken — the crypto exchange recently charged by the SEC for failing to register the offer and sale of its "crypto asset staking as-a-service program" in the U.S.

In this episode, Santori explains how recent regulatory actions in the U.S. have caused banks to become hesitant to accept crypto companies as new clients, and how this favors 'incumbent' crypto players in the U.S., such as Coinbase and Kraken.

During this episode, Chaparro and Santori also discuss:

'Operation Choke Point 2.0' Kraken's efforts to establish a bank How regulators view DeFi This episode is brought to you by our sponsors Circle , Railgun , Flare Network About Circle Circle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.

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