FCA warns against Kraken, who claims brand misuse and seeks clarification

According to Finance Magnates, the UK's Financial Market Conduct Authority (FCA) issued a warning on Kraken.com on Tuesday stating that it had provided unauthorized services in the UK. The FCA states that Kraken.com is providing financial products and investment opportunities in the country. However, it is not authorized to provide any such services in the UK without the permission of the regulator. Although the FCA designated the domain name as Kraken.com, the US crypto exchange Kraken said that the email address and phone number provided by the FCA were not Kraken. According to Kraken, the FCA's warning was directed at scammers, but used its own brand incorrectly. Kraken has contacted the FCA for clarification and noted that its futures platform CryptoFacilities is registered with the FCA.