[Kraken Co-CEO Criticizes UK FCA's Crypto Financial Promotion Rules as Overly Strict] According to The Block, Kraken Co-CEO Arjun Sethi criticized the UK's FCA crypto financial promotion rules implemented in October 2023 as overly strict, stating that mandatory risk warnings and 'positive friction' questionnaires reduce trading efficiency and hinder retail user participation. The FCA responded that the measures ensure investors fully understand the risks. Sethi noted that due to these restrictions, Kraken's UK users are unable to access approximately 75% of the products available in the US (including yield and DeFi products) and confirmed that the company is preparing for a New York listing, with the timeline undisclosed. Kraken's UK head Bivu Das previously called for accelerated frameworks for stablecoins and tokenization, while products like xStocks have yet to launch in the UK.