Kraken’s new CEO refuses to list crypto assets as securities

Kraken’s new CEO refuses to list crypto assets as securities


A phone with the kraken logo in front of a screen with financial data

Kraken’s new CEO doesn’t shy away from making controversial and anti-regulatory statements right from the start.
picture: Sergey Ilagin (stock struggle)

The newest head of one of the most controversial cryptocurrency exchanges does not appear to be holding back his company’s reputation for making controversial and anti-regulatory statements.

Next CEO of controversial cryptocurrency exchange Kraken, Dave Ripley said Reuters Wed that he does not plan to delist any symbols that have been cited as securities by the Securities and Exchange Commission or register with the Securities and Exchange Commission at all.

The thing is, the SEC is said to be in the middle Coinbase Cryptocurrency Exchange Investigation About those issues exactly. Although the agency has not made any official announcement about this investigation into whether the exchange has not listed the securities, it has brought securities fraud charges against a former project manager at the company.

The SEC said the project manager has purchased 25 types of crypto assets, and has recalled nine of these securities. Coinbase also has a regular to reject Offers securities on its platform. Paul Grewal, Coinbase’s chief legal officer, claimed that “Coinbase has a rigorous process in place to analyze and review every digital asset before it is made available on the exchange — a process that has been reviewed by the SEC itself.” Coinbase lists over 150 different tokens.

SEC President Gary Gensler has said repeatedly That most cryptocurrencies fall under the auspices of his field as securities. This excludes some of the biggest coins like bitcoin and ether, although since the merger and move to Proof of Stake, The situation around that latest cryptocurrency right now Up in the air. It makes Ripley’s comments seem like an absolute desire to resist regulatory infringement.

The OnceSan Francisco based in Kraken announce The CEO exchanged on Wednesday, saying COO Ripley would take over from Jesse Powell. Ripley steps in as a company with 9 million clients among its trading platforms. The company is also planning to launch its own NFT marketplace.

The Securities and Exchange Commission did not immediately respond to Gizmodo’s request for comment. Although Coinbase should have acted defensively against the SEC’s inquiries, Kraken appears to be taking the opposite approach, yelling “Come to me, brother” even as reports come in. Investigation by the US Treasury for allegedly allowing Iranian users to use the platform. Of course, Kraken Not the only exchange Accused of allowing users from sanctioned countries to access files platforms.

Former CEO Powell said he is on his way out of the Kraken leader position protocol He does not consider himself a “great manager”. Given how many times it has been cited for creating a hostile business environment, this makes things lighterLLC. Instead, he said he believed in himself as an individual product type of man. He often appeared as Dodbro in interviews and in his tweets as he grew up increasingly controversial During his tenure due to his reported misogyny and willingness to combine gender pronouns with “who can refer to another person as the N word”.

first time chirp “People are motivated by everything and cannot comply with the basic rules of honest debate. Return to dictatorship.” In response to another conviction, Powell He said “I don’t know what to say to people who feel they deserve some kind of workplace where they don’t have to stick to policies. If that comes up Authoritarian or whatever, you know, I think that’s fine.”

Based on his remarks, Powell now appears more interested in getting the industry to respond Infringement of industry regulation.





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