This week Kraken Financial became the first crypto company to receive a banking charter under Wyoming's Special Purpose Depository Institution statute. Join CEO David Kinitsky for a look at what it all means and how it'll work with hosts Adam B. Levine, Andreas M. Antonopoulos and Stephanie Murphy.
This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
In the early days of Bitcoin, there were no rules, or at least none that people understood. The first batch of companies were focused entirely on functionality; Simply making things possible that before crypto had been impossible.
In the aftermath of the collapse of first MTGox and then later TheDAO, it became obvious that rules did apply, or at least would moving forward. But what wasn't very clear was how they'd apply as different regulatory bodies claimed authority in confusing and often conflicting ways.
As law, if not order, came to the industry, much of crypto's first wave of US based exchanges were crushed as they struggled to get legal, a challenging task with different rules and unique compliance burdens for each state and territory they'd operate in. New York famously introduced the Bitlicense, which in the five years since it's introduction has approved just 25 companies to operate in the U.S. financial hub.
On today's show Kraken Financial CEO David Kinitsky joins the discussion of just how much things have changed as Kraken becomes the first crypto company to receive a banking charter under Wyoming's Special Purpose Depository Institution statute. And more importantly, what happens next.
Episode Art by Doran Erickson on Unsplash
--- Send in a voice message: https://podcasters.spotify.com/pod/show/originalltb/messageSOB #486.5 Why Cryptoization Scares the IMF (Part II)
SOB #486 Why Is the IMF Afraid of Cryptozation?
SOB #485 The Sure Thing, the Force Multiplier, and the Underdoge
SOB #484 A Brief History of Bitcoin Tipping (and Where Twitter Fits in it)
SOB #483 Exit, Voice & Bitcoin
SOB #482 Life on Bitcoin (2021 Edition)
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SOB #481 On National Adoption of Bitcoin
SOB #480 Is Axie Infinity's Play-to-Earn Economic Empowerment or Exploitation?
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SOB #479 Ethereum, Bitcoin; Hard Fork, Soft Fork: How Decentralized Change Is Made
SOB #478 The Expert Incentive, or ‘God Save the King of Kong'
SOB #477 Stoner Cats Chaos and the Mainstreaming of NFTs
SOB #476 - Digging Into El Salvador's Bitcoin Bill
SOB #475 Emergent Complexity and Building Systems We Don’t Understand
SOB #474 - Bitcoin Neutrality
SOB #473 - The New Renaissance
SOB #472 Wisdom of Crowds and the Information Disease
SOB #471 How and Why Governments Lie About Inflation
SOB #470 Challenges Towards a Post-Scarcity World (and the Bullshit Economics of Star Trek)
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