No ‘Security’ Token Delisting Plans for New Kraken Boss
Kraken exchange’s incoming chief executive has no plans to register with the SEC because it does not offer securities.
The firm’s former chief operating officer, Dave Ripley, will assume the role of CEO after it hires a new COO.
The news follows the shock announcement last week that Kraken founder Jesse Powell will be stepping down after more than a decade at the helm.
Ripley also stated that the exchange has no intentions of delisting any tokens that the SEC has unofficially deemed as securities, according to Reuters. Its decision not to play ball with the US regulator keeps the company on track with its libertarian ideals.
Ripley will take over at a turbulent time as crypto markets have plunged almost 70% since their all-time highs, and US regulators are tightening the screws.
They Are Not Securities
He added that the long list of coins listed on Kraken is not securities, despite what SEC Chair Gary Gensler claims. The exchange offers 203 coins and tokens and 634 pairs, according to CoinGecko.
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