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Kraken Exchange ignores regulatory concerns with SHIB listing



The exchange reacts differently than other digital asset exchanges like Robinhood. SHIB have not yet listed these due to regulatory concerns.


The digital asset exchange Kraken has announced that it will be offering the Memecoin Shiba Inu (SHIB) from November 30th.



The minimum deposit is 373,000 SHIB ($ 16) and the minimum trading volume is 50,000 SHIB ($ 2). SHIB can initially be traded against the US dollar and the euro, but the Kraken Futures and Margin Trading functions will not be available for SHIB at the start .


Kraken Australia CEO Jonathon Miller told Cointelegraph that the crypto marketplace supports projects where trade demand is very clear. This also includes SHIB.


At press time, the SHIB was the eighth largest cryptocurrency with a market capitalization of over $ 25.81 billion. SHIB is up over 20 percent in the past 24 hours due to the public listing announcement.


Miller added, "I wouldn't say that every single coin is listed on Kraken. We are not known for that."


Kraken is one of the least conservative exchanges with a total of 93 assets on the exchange. Coinbase, on the other hand, offers 51 assets and Robinhood only seven .


Other exchanges are still hesitant to list the Dogecoin-inspired altcoin. The reason for this are regulatory concerns, but users are putting more and more pressure on. On Friday, SHIB posted a 1 million owner milestone , despite being 50 percent below its all-time high.


On November 10, Robinhood's operations manager Christine Brown said the platform is pursuing a different strategy than many other players in the market. She explained that the others would now try to jot down as many assets as possible. There was a Change.org petition requesting that Robinhood record the Shiba Inu. This has already collected over half a million signatures.


Miller added, "There are certain services that don't really fit into the regulatory framework. There's a gray area that the entire industry is in. It's nothing for us."


"It is just in the nature of things that we are dealing with innovative technology that does not necessarily meet the criteria that regulators believe is possible."

In this context : nothing but hype? Australian central bank warns of cryptocurrencies



Robinhood's General Counsel Dan Gallagher said on November 19th at the Georgetown University Financial Markets Quality Conference on the current regulatory climate for digital asset exchanges: "It's a very tense situation that calls for regulatory clarity. But we have so far not received yet."

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