In a strategic move signaling its ongoing expansion, crypto exchange Kraken has appointed Benjamin Gray as its new chief legal officer. This appointment comes on the heels of [Marco Santori](https://www.bloomberglaw.com/product/blaw/bloombergterminalnews/bloomberg-terminal-news/SR64K0MEQTXO), Kraken’s veteran legal head, stepping down last month. Gray, who was previously the global general counsel and corporate secretary for stablecoin issuer Paxos Trust Co. LLC, will now oversee Kraken’s legal, compliance, and enterprise risk management divisions. This development arrives during a period of record-breaking revenue for the cryptocurrency exchange.
Gray’s tenure at Paxos spanned over three years, having joined the company in early 2022. His prior experience includes serving as a deputy general counsel and global chief compliance officer at Jack Dorsey’s fintech entity, Block Inc. His departure from Paxos was anticipated, following his announcement last week indicating a career shift. The transition to Kraken is widely viewed as part of the exchange’s efforts to bolster its compliance and legal infrastructure amid a climate of increasing regulatory scrutiny. For more on Gray’s journey to Kraken, visit [Bloomberg Law](https://news.bloomberglaw.com/business-and-practice/dorseys-block-loses-compliance-chief-to-crypto-platform-paxos).
As Kraken charts its course through the turbulent waters of the crypto industry, Gray’s leadership will likely play a crucial role. His background in both fintech and legal compliance positions him as a valuable asset to Kraken’s executive team, as the exchange continues its commitment to navigating complex regulatory landscapes.