Kraken Unveils KRAK

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Author

David J Hultgren
June 26, 2025 • Estimated Reading Time: 2 minutes

🚀 Kraken Unveils KRAK: A New Peer-to-Peer Payments App

Crypto exchange Kraken has officially launched KRAK, a peer-to-peer payments app that allows users to send and receive both crypto and fiat currencies. This strategic move comes as Kraken gears up for a potential IPO, positioning the platform to diversify its offerings and directly compete with fintech giants like Revolut, Cash App, and Venmo.

🇺🇸 Senate Banking Chair Tim Scott Sets New Deadline for Crypto Market Structure Bill

Sen. Tim Scott (R–S.C.), chair of the Senate Banking Committee, told a White House crypto adviser on June 26 that he expects the Senate’s crypto market structure bill to be finalized by September 30, 2025. This schedule represents a delay from former President Trump’s preferred August timeline, but remains more ambitious than the end-of-year projection offered by other lawmakers

🔍 Why It Matters

  • Market structure clarity is vital for defining securities, commodities, exchange standards, and regulatory jurisdiction—areas left vague under current law.

  • The new rules would complement the GENIUS Act, giving stablecoins and other digital assets a more durable regulatory foundation.

  • Though the Senate Banking Committee is spearheading the effort, the bill must also clear the Agriculture Committee and garner support in the House—so the timeline remains subject to change

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