New Kraken CEO: Crypto Exchange Won't Register to the SEC

Kraken will not apply to the SEC. (Photo; Doc. Kraken)

JAKARTA – The new leader candidate for Kraken crypto exchange, Dave Ripley, recently stated that his company will not register his company with the regulator, the US Securities and Exchange Commission, (SEC). Ripley will replace Kraken's previous CEO, Jesse Powell.

He further stated that Kraken would not register with the SEC as a market intermediary or remove tokens that regulators deem to be securities. This statement follows regulatory action against another crypto exchange, Coinbase.

In July, the SEC reportedly started its investigation into crypto exchange Coinbase for allegedly offering unregistered securities. The reason is, at that time the SEC had included a certain number of cryptocurrencies on Coinbase as securities.

Ripley confirmed that Kraken will not remove tokens classified as securities by the SEC. The future Kraken leader also added that his party would not register with the SEC even though chairman Gary Gensler urged crypto exchanges to register immediately.

On the other hand, he did not deny that in the future Kraken could list crypto assets that are included in the securities category.

“There are no tokens out there that are securities we are interested in listing. There may be some new tokens out there that become interesting and also happen to simultaneously be securities [and] in this case, we are potentially interested in that path,” said Dave Ripley, quoted by DailyHodl.

Last week, Kraken CEO Jesse Powell announced that he would step down from his post and be replaced by Dave Ripley. Instead, Powell will serve as chairman of the crypto trading company's board of directors.

At the same time, Powell's potential successor, Ripley revealed that he has a mission that is not much different from his predecessor, namely to accelerate the adoption of cryptocurrencies.