In a major development, leading crypto exchange Kraken has welcomed Natasha Powell on board as its Head of Compliance in the UK. The well-seasoned veteran of both traditional finance and the emerging cryptocurrency space will be onboarding with Kraken in November 2024. This makes her role all the more significant given that crypto exchanges are facing regulatory heat, in particular in the UK, where regulators are cracking down on firms boasting strict compliance processes.
Powell’s hiring emphasizes that Kraken is serious about cleaning up its act, which requires solid compliance, as any cryptocurrency exchange navigating the maze of financial regulations will tell you. With Kraken’s values in mind concerning a commitment to the specific principle of transparency and security, this strategic hire reflects a clear step towards continuing our efforts and ensuring we meet (where possible, exceed) new regulatory standards.
Natasha Powell: A Compliance Veteran with a Strong Background
Jesse’s work will be enhanced by the addition of 10 years of seasoned regulatory expertise, led by Natasha Powell, to his team at Kraken. Anne-Krystel Giffo now comes to the crypto exchange from her role as Chief Compliance Officer at BCB Group, a top crypto payments outfit. Powell began his career at the Financial Conduct Authority (FCA), the UK regulator of financial services. At the FCA, she was responsible for a full range of compliance frameworks, knowledge that will come in handy in her new role at Kraken. And Powell has also held senior compliance positions at large financial corporations such as Barclays Capital and RBS, proving her qualifications higher.
As the crypto industry continues to skyrocket, professionals like Powell are in high demand — but they can be paired with a hefty price tag as well, with exchanges wishing for help navigating a complex regulatory environment. Given Kraken’s ongoing drive to target a higher market share in the UK, Powell will be instrumental in ensuring the crypto exchange satisfies all compliance needs and building trust among its customers.
Kraken’s Strategic Focus on Regulatory Compliance
Kraken has hired Natasha Powell as Head of Compliance, indicating that the company is looking to strengthen its regulatory compliance. As regulations are increasingly strict everywhere in the world, Kraken is making efforts to grace the curve. This appointment will help Kraken make sure all its compliance procedures are robust enough for London’s cutthroat financial services industry.
A Kraken spokesperson said that “the exchange is also continuously searching to add to its expertise by hiring people active within this market.” One in Kraken’s management team, Natasha Powell, will mean that it is the best way for Kraken to adapt and protect its operations as legal conditions grow increasingly fluid.
Advertisement Banner
The regulatory atmosphere around the globe when it comes to cryptocurrencies is evolving, with authorities from different countries taking urgent measures to prevent illicit activities and shed more light on cryptocurrency transactions. This means, in particular, that crypto exchanges must show their willingness to comply, which is where veterans like Natasha Powell add value for Kraken.
How This Move Reflects Broader Industry Trends
This is part of an industry-wide trend in which major crypto exchanges are doubling down on efforts to comply with a high level of regulatory demands. There has been a crackdown from the likes of the Financial Conduct Authority (FCA) as well as regulatory bodies globally to monitor cryptocurrency operations, which now means more rigorous anti-money laundering (AML) checks are required, along with full know-your-customer (KYC) processes and all manner of reporting.
Taking on Powell position Kraken as a responsible player in crypto and continuous support against other future adversaries. Other exchanges have also expanded their compliance teams, acknowledging that regulatory compliance is critical to long-term survival.
For Kraken, the focus is not just on ticking regulatory boxes but also on reinforcing investor confidence. The presence of seasoned compliance professionals like Powell reassures both institutional and retail investors that the exchange is operating transparently and within legal boundaries.
Summing Up
Including Natasha Powell on the team as Head of Compliance is a sign that Kraken does not intend to wait around for that future, instead wading into the murky waters of US and UK regulation early. Powell brings deep experience in both traditional finance and the crypto sector to her new role at Kraken, helping drive best practices for compliance across the exchange.
Powell’s knowledge will prove invaluable in helping Kraken stay ahead of the curve as the regulatory environment changes and ensure it remains a reputable, compliant crypto exchange in the UK. This high-profile hire validates that Kraken is “played by the rules” to not only fulfil regulator expectations, but also exceed them with best-in-industry programs for compliance and transparency.
Stay tuned to TheBit Journal on Twitter and LinkedIn, and join our Telegram channel for more!
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
