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Kraken’s CEO is planning not to register with the SEC

Kraken is one of the most popular crypto exchanges globally and is available in more than 190 countries. In a recent statement released by the exchange, it was stated that Kraken’s CEO is not planning to delist any tokens from their platform or register with the SEC even after being called by them.

Ripley on Kraken

Mr. Ripley, incoming Chief Executive Officer of Kraken, stated that the exchange would work the same way. He explained that they are interested in listing security, not any tokens in their platform. He also mentioned that even if, in the future, there is any token that becomes famous and also happens to be a security, they would potentially list it on their platform.

Kraken CEO plans not to register with SEC

Credits: Bitcoin Magzine

As per the reports, Ripley stated that their exchange would also love to acquire companies as it would add an NFT platform and institutional client banking services to its portfolio of techs and products. It would be great for them in many ways.

Last Wednesday, Kraken also announced that Mr. Ripley, currently the company’s COO, will take the position of Jesse Powell as CEO of the exchange, while Powell will step down from his position but will remain with the exchange as a chairman.

SEC chairman is not happy with Kraken

Last week, a report was released by PYMNTS, which stated that the SEC would be adding an Office of Crypto Assets and other new centers to its DRP Program. The office will take on all the work currently done across this program to look over the filings involving cryptos. The SEC mentioned that they would mainly focus on the resource and expertise regarding crypto and securities.

A few days before this report was released, PYMNTs stated that the chairman of SEC, Mr. Gensler, is in support of giving more crypto oversight to CFTC as the regulatory bodies should take the responsibility to build more clean policies to best protect the investors. 

Gensler clarified that he also believes most cryptos are securities; therefore, all trading platforms should register with the SEC to improve their functioning in the nation.

What are your thoughts as Kraken’s CEO says they are not planning to register with the SEC? What actions will the SEC take against Kraken, according to you? Let us know in the comments below. And, if you find our content informative, do share it with your family and friends.

Also Read: Coinbase makes its way to the Dutch market.



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