New Kraken CEO Says Crypto Exchange Won’t Register with SEC: Report

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The new CEO of crypto exchange Kraken has reportedly said that the company has no plans to register with the US Securities and Exchange Commission (SEC).

According to a new report from Reuters, Dave Ripley, who will replace current CEO Jesse Powell, says Kraken will not register with the Securities and Exchange Commission as a market broker or remove tokens deemed monikers by the regulator.

In July, it was reported that the Securities and Exchange Commission opened an investigation into US crypto exchange Coinbase for allegedly providing unregistered securities. At the time, the regulator classified a handful of cryptocurrencies listed on Coinbase as securities.

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Ripley says Kraken has no intention of removing these tokens and will not register with the Securities and Exchange Commission, despite calls from crypto exchange Chairman Gary Gensler to do so.

However, Ripley does not rule out that Kraken may one day list crypto assets that are securities.

“There are no tokens in the market for the securities that we want to list. There might be an interesting new token that just happens to be a security at the same time. [and] In this case, we would likely be interested in this path.

Last week, Kraken announced that Powell would step down as CEO and instead serve as chairman of the company’s board of directors.

After his call to succeed Powell, Ripley said his goals would largely mirror those of his predecessor – to accelerate the adoption of digital assets.

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Main image: shutterstock/Don Roberts

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