Kraken Fixes Delayed Deposits and Withdrawals for Bitcoin and Ethereum

Crypto exchange Kraken has fixed an issue with Bitcoin, Ethereum, and ERC-20 token gateways that was causing deposits and withdrawals to be delayed.

The problem arose on June 6 at 10:44 (Moscow time / Kyiv). Then platform published a warning about possible complications when depositing and withdrawing assets.

Half an hour later, the technical team of the exchange corrected the error, reporting the normalization of the input and output processes.

On the same day, Kraken suspended the futures platform for 10 minutes. The company referred to the maintenance of the site.

In April, the bitcoin exchange filed a lawsuit against the US Internal Revenue Service (IRS), which required the platform to provide user data. Kraken denies the regulator’s right to receive information about transactions with digital assets, calling the IRS requirements “an unjustified treasure hunt.”

The governance requirements apply to users with a trading volume of more than $20,000 in 12 months between 2016 and 2020. Representatives of the regulator said that their actions are aimed at identifying tax evaders.

Recall that in March, Kraken confirmed the launch of its own bank, despite problems with regulators.

In April, a subsidiary of the exchange received a license in Ireland as a provider of services in the field of virtual assets.

In June, Kraken appointed a new technical director, Vishnu Patankar. He shared his vision for the development of the platform and talked about the benefits of AI for the crypto industry.

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