The Delaware-incorporated crypto-trading platform said it has filed a pre-registration undertaking with the Ontario Securities Commission, with the goal of becoming licensed as a restricted dealer. (The Logic)

Talking point: Last week marked the end of a 30-day window the Canadian Securities Administrators, an umbrella organization for provincial securities regulators, gave to crypto platforms that haven’t yet submitted an agreement to follow certain rules while they pursue full registration. The move came after the collapse of FTX brought increased scrutiny on the sector. Kraken’s decision to remain in Canada and work with regulators is notable, given outgoing CEO Jesse Powell’s libertarian values. Kraken has previously run afoul of the U.S. Treasury Department for allegedly violating sanctions against Iran and the U.S. Securities and Exchange Commission for its staking product. Last year, the OSC contacted law enforcement after Powell and Coinbase CEO Brian Armstrong posted tweets that appeared to offer advice on how crypto users could evade Emergencies Act restrictions against the convoy protests.