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News

Kraken New CEO Declines to Register Crypto Assests As Securities

September 23, 2022 - Around 2 mins mins to read
The new CEO of Kraken – Dave Ripley – showed his opinion that Kraken exchange has no plans to register crypto assets as securities on the SEC regulations.

Dave Ripley – the new CEO of Kraken – continues to decline any overreach From SEC (Securities and Exchange Commission). That said, to register crypto assets is no need as they are not the same as any market intermediary.

Ripley also acknowledged that the crypto industry is in the darkest period. Events that happened in a row such as FED’s new hike in interest rates, and the upcoming securities laws updates relevant to crypto assets could suppress the crypto industries and destroy all breakthroughs that it has created for a long time.

Earlier this year, Jesse Powel – Co-Founder and ex-CEO of Kraken Exchange – also have the same move against the strict regulations when he declined to block all normal Russians’ wallets despite the escalating war between Ukraine and Russia. According to his viewpoint, the sanctions for all Russian citizens are unfair and do not need to comply.

Jesse Powel and Dave Ripley have the same move of not register crypto assets

Now, under the direction of the new CEO, Kraken is still on the way to pursuing freedom – that’s the inherent nature of the blockchain and crypto industry.

After the sanction from SEC that scrutinized some tokens on Coinbase due to the securities defining, Ripley still has no actions to register crypto assets or remove them on the Kraken exchange.

“There are not any tokens out there that are securities that we’re interested in listing,” he said. “There could be some new token out there that becomes interesting and also happens to simultaneously be a security [and] in that case, we would potentially be interested in that path.” Ripley said

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