Summary: Bitcoin exchange Kraken has acquired New York-based Bitcoin exchange Coinsetter (which itself acquired Canadian Bitcoin exchange Cavirtex) in an effort to get back into the North American Bitcoin trading market.
Kraken is well known throughout Europe and Asia as a top-tier Bitcoin exchange. Although headquartered in San Francisco, Kraken left the U.S. trading market in 2014 citing issues with banking partners.
The migration from Coinsetter to Kraken will begin on January 26th, at which time New York-based customers will no longer be served due to the strict “BitLicense” regulations in the state.
More details are available on the official blog post about the deal.