{"id":133432,"date":"2024-07-18T23:24:09","date_gmt":"2024-07-18T20:24:09","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=133432"},"modified":"2024-07-18T23:24:09","modified_gmt":"2024-07-18T20:24:09","slug":"cash-app-exits-uk-kraken-and-strike-btc-enter-market","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/cash-app-exits-uk-kraken-and-strike-btc-enter-market\/","title":{"rendered":"Cash App Exits UK, Kraken and Strike BTC Enter Market"},"content":{"rendered":"<p>Launched in 2013 under Dorsey\u2019s Block Inc., Cash App expanded to the UK in 2018 as its first international market.<\/p>\n<p>However, regulatory hurdles mounted over time. In 2022, the Consumer Financial Protection Bureau (CFPB) initiated legal action against Block Inc., citing concerns about Cash App\u2019s handling of complaints. Despite repeated requests for information, the firm reportedly failed to comply fully with CFPB\u2019s inquiries.<\/p>\n<p>Additional scrutiny from US financial regulators in February further strained operations, prompting Block Inc. to refocus on its domestic market. This shift in strategy includes deprioritizing global expansions, including <strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-18\/dorsey-s-block-plans-to-shut-its-cash-app-platform-in-the-uk\" rel=\"nofollow\">operations in the UK<\/a><\/strong>.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-133421\" href=\"https:\/\/cryptodnes.bg\/en\/american-company-bets-against-trump-media-day-before-the-assassination-attempt-coincidence\/\" title=\"American Company Bets Against Trump Media Day Before the Assassination Attempt &#8211; Coincidence?\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/181011114942-donald-trump-super-169-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">American Company Bets Against Trump Media Day Before the Assassination Attempt &#8211; Coincidence?<\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>Concurrently, Kraken has <strong><a href=\"https:\/\/blog.kraken.com\/news\/kraken-custody-uk-and-australia\" rel=\"nofollow\">launched<\/a><\/strong> its Custody service in the UK, aiming to cater to institutional investors seeking secure management of crypto assets. Meanwhile, Jack Mallers\u2019 Strike BTC service has also <strong><a href=\"https:\/\/www.coindesk.com\/business\/2024\/06\/25\/bitcoin-payments-app-strike-enters-uk-as-global-expansion-rolls-out\/\" rel=\"nofollow\">debuted<\/a><\/strong>, facilitating free and instant <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a><\/strong> purchases from UK bank accounts.<\/p>\n<p>The exit of Cash App from the UK, coupled with the entry of Kraken Custody and Strike BTC, reflects diverse business strategies amid regulatory landscapes in different regions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jack Dorsey&#8217;s decision to suspend Cash App services in the United Kingdom after six years of operation underscores regulatory challenges faced by the Bitcoin-friendly platform.<\/p>\n","protected":false},"author":3,"featured_media":38960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[72,424,375],"coin_category":[],"class_list":["post-133432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-bitcoin","tag-crypto","tag-kraken"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cash App Exits UK, Kraken and Strike BTC Enter Market<\/title>\n<meta name=\"description\" content=\"Jack Dorsey&#039;s decision to suspend Cash App services in the United Kingdom after six years of operation underscores regulatory challenges ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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