Kraken Wins $22 Million Arbitration as CEO Pushes for Clear U.S. Crypto Regulations
Kraken has secured a $22 million arbitration award against its former auditor, Mazars USA, after the firm withdrew from the exchange’s nearly completed 2022 audit despite reportedly finding no evidence of fraud or concerns about the company’s management.
Kraken’s parent company, Payward, is now seeking to have the award formally recognized by the Delaware Court of Chancery. Co-CEO Arjun Sethi argued that the dispute reflects the broader regulatory pressure faced by crypto businesses in recent years and renewed his call for U.S. lawmakers to pass the CLARITY Act, which would establish clear rules for digital assets and define regulatory oversight between the SEC and CFTC. Sethi believes a comprehensive regulatory framework would provide greater certainty for crypto companies, improve access to banking and auditing services, and support long-term innovation in the U.S. digital asset industry.
Clever Robot News Desk 9th July 2026
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