Kraken’s Incoming CEO Has No Plans to Register With the SEC

by in Cryptocurrency News

Kraken crypto exchange SEC

Crypto exchange Kraken's newly appointed CEO Dave Ripley said he has no intentions to register with the US Securities and Exchange Commission because Kraken doesn't offer users to trade securities.

Related: Kraken Receives License to Operate in Abu Dhabi

According to Reuters, the executive added that there are no plans to delist any securities that the SEC labeled as securities either.

On September 21, Kraken founder Jesse Powell announced stepping down as CEO. He will be replaced by Dave Ripley, the platform's Chief Operating Officer. Ripley will take up the new position in the next few months when the company hires a new COO. Jesse Powell will continue to be highly engaged in the company as chairman.

Earlier this month, SEC chair Gary Gensler said that most crypto assets are securities and many intermediaries including exchanges should be registered with the SEC. He added that the companies may need to register with the Commodity Futures Trading Commission (CFTC) as well.