Payward sued its former auditor, Mazars, for abandoning a nearly complete audit during Operation Choke Point 2.0.
- Kraken's parent company, Payward, won a $22 million arbitration award against its former auditor, Mazars USA, for abandoning a nearly completed audit.
- The abandonment occurred during 'Operation Choke Point 2.0,' a period of alleged regulatory pressure on banks to sever ties with crypto firms.
- Payward's co-CEO highlighted the need for clear regulations, urging Congress to pass the CLARITY Act to prevent similar issues for businesses seeking basic financial infrastructure.
Topics: Legal regulatory, Jurisdictions, Institutional adoption, Enforcement actions litigation, Regulatory sandboxes pilots, Banking depository pilots
Tags: #kraken #mazars #operationchokepoint20 #arbitrationaward #auditorabandonment #regulatorypressure #clarityact #bankingservices #cryptoindustry
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