Crypto Exchange Kraken Disables Margin Trading for Some U.S. Residents

From decrypt.co

Crypto exchange Kraken has announced that it will disable margin trading for some U.S. residents from June 23, "in light of regulatory guidance." Margin trading involves an investor borrowing funds from a third party—in this case, the exchange—to make trades for more than they actually own. Kraken allows traders to trade margin up to five times the initial value. According to a blog post by Kraken, U.S. residents will need to be verified at the Intermediate level on the exchange and self-certify as an Eligible Contract Participant (ECP) under U.S. law to qualify for margin trading. An ECP is an individual ... (full story)