Kraken’s New U.K. Head of Compliance: Natasha Powell
Crypto exchange Kraken has made a significant addition to its leadership team by hiring Natasha Powell as the new head of compliance in the United Kingdom. This move comes at a time when the cryptocurrency industry is facing increasing scrutiny from regulators around the world. With Powell’s extensive experience in compliance and regulatory matters, Kraken aims to strengthen its position in the market and ensure adherence to legal standards.
According to sources familiar with the situation, Powell will officially begin her role at Kraken in November. While details about her specific responsibilities have not been disclosed, it is expected that she will play a crucial role in developing and implementing compliance strategies tailored to the rapidly evolving cryptocurrency landscape in the U.K.
Before joining Kraken, Powell served as the Chief Compliance Officer at BCB Group, a notable crypto payments firm. Her tenure at BCB Group was marked by her commitment to establishing robust compliance frameworks that align with regulatory expectations. This experience positions her well to tackle the challenges Kraken may face in the U.K. market.
Powell’s career began with the Financial Conduct Authority (FCA), the U.K. regulator responsible for overseeing the financial services industry. Her foundational experience at the FCA provided her with a deep understanding of regulatory requirements and the importance of compliance in maintaining the integrity of financial systems. Following her time at the FCA, she held roles at reputable institutions such as RBS (Royal Bank of Scotland) and Barclays Capital, where she gained further expertise in compliance and risk management.
As the cryptocurrency market continues to grow, the need for effective compliance measures becomes increasingly critical. Regulators are focusing on ensuring that crypto exchanges operate within legal frameworks to protect consumers and maintain financial stability. By bringing in a leader like Powell, Kraken demonstrates its commitment to regulatory compliance and its proactive approach to navigating the complexities of the financial landscape.
In a statement regarding the new hire, a Kraken spokesperson remarked, “We’re always exploring new opportunities to enhance our offering with talent from the industry.” This indicates that Kraken is not only focused on compliance but is also aiming to bolster its overall service offerings through strategic hires.
While Powell has declined to provide further comments on her new role, her track record suggests that she will be instrumental in guiding Kraken through the compliance challenges that lie ahead. As she transitions from her previous position, stakeholders will be watching closely to see how her leadership influences Kraken’s operations in the U.K.
The cryptocurrency industry is at a pivotal juncture, and with experienced professionals like Natasha Powell joining key players like Kraken, there is potential for a more regulated and trustworthy environment. This could ultimately benefit consumers, investors, and the broader financial ecosystem as the industry matures.
Related Reading: BCB Group’s Chief Compliance Officer to Exit in Latest Senior Management Departure
