Kraken Contributes $100K Funds to Help Coin Center

Vandana  |  Feb 2, 2021

Kraken, a well-known crypto exchange, has recently donated $100k funds to Coin Center. It is revealed that the exchange has made this donation to help Coin Center in promoting its work of educating the regulators about digital assets and more specifically, cryptocurrency. 

Kraken has also mentioned that the Coin Center has always been at the forefront of the challenging policies. Pete Rizzo, Editor-at-Large of the exchange has said:

“At a time when misinformation about this new technology remains high, we call on all industry leaders to join us in funding this essential work.”

Kraken Made Donation After Grayscale’s Donation

Kraken has made this donation after the recent contribution by Grayscale Investments. Back in the previous week, it has been seen that Grayscale had made a donation of $1 million to Coin Center. Along with this, the firm had also mentioned that they will be making an additional donation of $1 million by the end of February 2021. The firm also appreciates the effort made by Coin Center in correcting the issues that were there in proposed rulemaking by the FinCEN. 

Back in the previous month, U.S. lawmakers had introduced a STABLE Act, which was meant for blanket regulation on stablecoins. After this, FinCEN has also released a proposal for restricting the money service businesses, which also includes crypto exchanges. 

Coin Center Aims to Promote a Better Regulatory Climate

Coin Center has said that their major focus is on promoting the better regulatory climate for cryptocurrencies. This will help to preserve the ultimate freedom to innovate that will be done using the permissionless blockchain technologies. The firm has also filed two comments for the proposed wallet rule by the FinCEN. Neeraj Agrawal, Director of Communications at Coin Center, has said that they will be focusing on advancing complete financial privacy and along with this, it will contribute to a better and sensible tax policy.

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