CFTC's Kraken Penalty

The CFTC has imposed a $1.25 million penalty on Kraken for offering illegal off-chain digital asset trading without proper registration. This relatively minor fine is seen as a mere "slap on the wrist" for Kraken, suggesting that the exchange might view it as a cost of doing business. The discussion highlights the CFTC's more reasoned and rational approach to regulation in the crypto space.