Hello Bitcoin world!
Coming in hot off the press releases this Wednesday we have confirmed big news for both Bitcoin and Kraken.
A banking board located in Wyoming has officially voted to approve the crypto exchange's application for becoming an SPDI.
This news makes Kraken the first cryptocurrency exchange in the US to be approved as a banking institution or in other words a Special Purpose Depository Institution.
(image is of Kraken owner Jesse Powell)
We had talked about this here back in February along with some other signs that cryptocurrency is finally going more mainstream.
This news confirms the fact that regulations have grown thinner on the Crypto space making it possible for more things such as this to happen.
We have seen advertisements on National TV stations from places like Grayscale.
We have seen celebrities like Gene Simmons, Dave Portnoy, and even JK Rowling show their interest in Bitcoin.
We are starting to witness Blockchain go mainstream now.
We have seen banks get approval to start dabbling in crypto.
We have seen an increase correlation between stock markets and bitcoin AND gold.
Institutions are buying up hard dips down gobbling up all that they can.
We have seen all of these things and so much more!
This approval for Kraken opens the doors for other Crypto Exchanges to follow suit.
All day people in the business world of Crypto are going to be making calls and probably even trying to drop a location of their own in Wyoming.
So it is actually really good news for Wyoming too! Who also saw Yellowstone finally geyser this year too.
What a year, am I right?
Not familiar with Kraken?
Kraken and Kraken Pro is a Cryptocurrency Exchange for trading things like Bitcoin as an investor!
Based out of San Francisco, this newly approved "Banking Firm" allows users to deposit, withdraw, learn, and exchange a growing list of popular cryptocurrencies.
This newly approved status allows Kraken to have a closer relationship with the Federal Government and Federal Reserve.
This new handshake would allow Kraken better options for customers to manager funds in their account.
Similarly, on the back end for Kraken it will be easier and more efficient for Kraken to process transactions and offer sweet new deals in the future.
If you don't trade very often it is a great place to keep your Crypto funds because it is safe, secure, and now fully backed by the Federal Government.
(poor Coinbase must be so jealous right now)
If you trade often then Kraken or Kraken Pro is a great exchange with competitively lower fees than their competitors.
Coming soon they are likely to celebrate the win by offering something to customers.
If you want to get verified and prepared before people flood to Kraken be sure to sign up soon.
I reached out to Kraken and was approved to share a welcome offer to my readers too!
Click my referral link below here to get signed up to receive sign up bonuses & 20% bonus payouts from my traded revenue.
Hope everyone enjoys the news, congratulations Kraken, and best of luck to all!
Use my referral link to sign up for Crypto.com and we both get $50 USD 🙂
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