Jesse Powell will soon be stepping down as CEO of Kraken after 11 years. His successor is already ready in the form of Dave Ripley. Now it’s just a matter of waiting for Kraken to find a successor to Ripley, who is currently still on the payroll as COO. The new CEO indicates have no plans to register the exchange with the Securities and Exchange Commission (SEC).
Kraken won’t go to SEC
New CEO Dave Ripley believes it is irrelevant for Kraken to register with the SEC. Ripley bases his opinion on the fact that there are no tokens listed on the platform that qualify as securities by the SEC. “There are no tokens we are interested in that qualify as a security,” said Ripley.
Incidentally, he does not rule out the possibility that Kraken may list tokens that qualify as a security in the future. “There may be a new token on the market that is interesting enough to list, if that’s the case, we’ll explore the possibilities,” Ripley said.
Riple is going to Powell soon to replace as CEO who has been at the helm of Kraken for a total of 11 years. The growth of the company meant that Powell was increasingly occupied with things that were not close to his heart. That part in particular must now be taken over by Ripley, as Powell will remain closely associated with Kraken as chairman of the board.
Ripley directly opposite Gensler
With his statements, Dave Ripley is immediately diametrically opposed to SEC chairman Gary Gensler. Not long ago, he said that most cryptocurrencies qualify as securities and that many intermediaries, such as exchanges, trade in securities and must register with the SEC.
Earlier this year, the SEC launched an investigation into Coinbase, which, according to the indictment, also trades in unregistered securities. Gensler has faced a lot of criticism for the way the SEC works and the lack of action against the major exchanges that list any token just like that.
In the past, Kraken has mainly had problems with allowing users from Iran to “just” be allowed to trade on the platform. This goes directly against some American sanctions.