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Kraken’s David Ripley on not having plans of cryptocurrency certification from SEC

The newly hired CEO of cryptocurrency exchange Kraken has stated about having no plans to register the company with the United States Securities and Exchange Commission (SEC) or delist any tokens which have been labeled by the SEC as securities, as reported by Cointelegraph.

According to Cointelegraph, through a recent Reuters report, new CEO Dave Ripley said he doesn’t see reasons around registering with the SEC as an exchange as it is not involved with offering of securities. However, Ripley didn’t rule out listing of security tokens completely, mentioning about the possibility of a new token which could become interesting and can also offer security. 

On the basis of information by Cointelegraph, Dave Ripley is on course to succeed Jesse Powell as CEO post the Kraken co-founder recently deciding to resign from his position after 11 years at the job, citing the growth of the company and the drain on him to oversee it all. In the company statement which announced the change in ownership, Ripley highlighted that his goals going forward were in lockstep with Powell’s and stated Powell’s plans to stay linked with the company. Ripley’s statements on cryptocurrency assets are shown to be opposing Gary Gensler, chairman, SEC, who was recently vocal on the status of cryptocurrency exchanges and tokens.

Moreover, Cointelegraph noted that Gensler has reportedly come under criticism this year for his agency’s take towards cryptocurrency regulations and for its lack of action against certain cryptocurrency exchanges. Previously, Kraken has come under fire from the United States Treasury Department’s Office of Foreign Assets Control (OFAC) for allegedly permitting Iran-based users and users from other countries to buy and sell cryptocurrency, at the possible violation of US sanctions.

(With insights from Cointelegraph)

Also Read: Next one year will see involvement of approximately one million Australians in cryptocurrency: Survey

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