Kraken Seeks to Halt UK Collective Action Over Alleged Crypto Collusion

Crypto exchange Kraken has asked a UK court to cancel approval for a collective action targeting Kraken and rival providers. The claim, which alleges collusion among crypto exchanges, was pared back in 2024 by competition judges. In its motion, Kraken argues that the collective action should not proceed to trial.

The collective action is part of ongoing litigation in the UK, where several cryptocurrency exchanges are facing allegations of anti-competitive behavior. The claim was initially filed in 2023 and has undergone several revisions since then. Kraken's motion to cancel approval for the trial marks a significant development in the case.