Kraken won’t register with the SEC, the new CEO says.
Kraken’s new CEO is claiming that the crypto exchange has absolutely no plans to register their platform with the U.S. Securities and Exchange Commission (SEC) anytime soon.
According to Reuters, Dave Ripley, the man who will take over Jesse Powell’s spot as Kraken’s CEO after Powell stepped down from the position earlier last week, says that Kraken will not be listing their exchange with the SEC despite constant nagging for exchanges to do so.
Ripley argues that the reason they will not be doing so is because Kraken doesn’t deal with securities, saying “not any tokens out there that are securities that we’re interested in listing.”
“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.” he stated.
Ripley stands his ground on this decision despite the fact that earlier this year, Coinbase was criticized heavily and even investigated by the SEC for reportedly listing securities on their platform and not registering it.
Although the SEC haven’t yet directly responded to these statements by Ripley, it may be possible that this could have brought the SEC’s direct attention towards Kraken, possibly causing them to be investigated in the future by the regulators.
Krakens Transition To New CEO
Just last week, Kraken’s well known and rather controversial CEO, Jesse Powell announced that he would be stepping down from the position of CEO and instead will be serving as the company’s chairman of the board of directors.
📣 We have announced plans for our COO Dave Ripley to succeed Kraken Co-founder and CEO Jesse Powell, who will become chairman of the board.
Check our latest blog for details regarding our leadership succession plan.
— Kraken Exchange (@krakenfx) September 21, 2022
Since then, the exchange announced that the current COO, Dave Ripley, will be taking over the role of CEO. Under Ripley as Kraken’s new CEO, he claims that his goals for the crypto exchange are for the most part, extremely similar to those of Powell’s.