The new CEO of Kraken said that since the exchange does not deal in securities, it does not require registration with the regulator. However, this position may change in the future.
Dave Ripley, CEO of the Kraken cryptocurrency exchange, stressed that the exchange does not intend to delist digital assets that the US Securities and Exchange Commission (SEC) considers securities subject to regulatory oversight. However, he did not rule out the official listing of share tokens.
“A new token that is interesting for the exchange and at the same time recognized as a security could force us to obtain a license,” Ripley said.
He added that his goals are aligned with those of former Kraken CEO and co-founder Jesse Powell. According to Ripley, Powell plans to continue to “remain actively involved in the work of the company.” Recall that Powell resigned in September, after 11 years at Kraken, citing the company’s large growth costs that are out of control.
Ripley’s statement was a kind of challenge to SEC Chairman Gary Gensler, who said that after the transition of Ethereum to Proof-of-Stake (PoS), ETH can be considered as a security. This angered Ripple founder and CEO Brad Garlinghouse. He disagrees that after the merger, ETH can be considered an unregistered security.
Michael Bacina, an Australian digital asset lawyer at Piper Alderman, opined that the SEC announcement could have a “serious deterrent effect” on cryptocurrency exchanges and token projects “regardless of whether the SEC recognizes tokens as securities.”
Source: Bits
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