New Kraken CEO plans no SEC registration

New Kraken CEO plans no SEC registration

The newly appointed chief executive of crypto exchange Kraken has confirmed that he has no immediate plans to register his company as an exchange with the SEC, nor to delist cryptocurrencies that the SEC may classify as securities.

As Reuters reported on Thursday, the new Kraken CEO Dave Ripley sees no reason to register with the SEC as an exchange because, in his opinion, Kraken does not trade in securities.

“We have no interest in listing cryptocurrencies, which are securities, anyway,” Ripley counters.

At the same time, the newcomer does not want to completely deny that security tokens will be listed, he says: “There could be a new token at some point that is interesting and at the same time a security, in which case we could be interested in it.”

Dave Ripley succeeds Jesse Powell, the longtime CEO and co-founder of Kraken, who resigned on September 21 after 11 years in office. The main reason for this step was the rapid growth of Kraken, which has become too much for Powell in this role.

In his statement on the transfer of power, Ripley emphasizes that his goals “align” with Powell’s and that he “will remain very active at the company.”

However, Ripley’s announcements are contrary to the plans of SEC boss Gary Gensler, who recently commented on crypto exchanges and cryptocurrencies elsewhere.

On September 15, Gensler repeated before the parliamentary banking committee that, in his opinion, cryptocurrencies are largely securities and that crypto trading platforms should therefore be registered as exchanges with the Securities and Exchange Commission.

“Crypto service providers will one day have to file with the SEC and the CFTC,” Gensler said in his statement.

In the current year, the SEC has already launched investigations into the large American crypto exchange Coinbase because it is said to have illegally sold securities.

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