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The incoming CEO of Kraken moves quickly in terms of security aspects. Dave Ripley in an interview stated that he has no thoughts of registering with the Securities and Exchange Commission (SEC). Ripley is currently Chief Operating Officer (COO) at Kraken. And the current CEO Jesse Powell is going to resign from the post.
Kraken is recognized as one of the oldest Bitcoin crypto exchange platforms in the world. Due to its low fees, best security standards, and variety of funding options, it is ranked as one of the best platforms to buy and trade crypto assets. It aided in the requirements of more than nine million Kraken investors. As Satoshi mined the first Bitcoin, Kraken took the lead to continue on a successive path. Recently, in the Russian-Ukraine conflict, Kraken took a unique decision by refusing to block the crypto asset wallets of Russian users.
Kraken has no reason to register with the SEC because Kraken tokens were never used to trade securities. After the announcement of the SEC’s plan to consider at least nine tokens of Coinbase as securities, Coinbase denied the hearing by the SEC to consider its tokens as securities. So Ripley took the step that Kraken has no plans to block the tokens that are identified as securities.
“There are not any tokens out there that are securities that we are interested in listing” Ripley stated.
As per the statement of the former SEC, Bitcoin and Ethereum are not considered securities due to the fact that they weren’t involved in any public investments. And the remaining crypto assets, which basically rely on token sales, are considered securities.
Ripley also mentioned that the exchanges could be accepted as securities in the future. “There could be some new token out there that becomes interesting and also happens to simultaneously be security. In that case, we would potentially be interested in that path.”
Meanwhile, the SEC’s showing no interest in interrogating Kraken may attract investors and regulators interested in the Kraken platform.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
