Cryptocurrency exchange Kraken has no plans to delist tokens the U.S. Securities and Exchange Commission has labeled as securities, or to register with the agency as a market intermediary, said incoming chief executive officer Dave Ripley on Thursday.
The stance of the San Francisco-based platform, which says it has more than nine million clients, underscores the challenges the securities regulator is facing in its effort to rein in the crypto industry.to block the digital wallet addresses of Russian users following the invasion of Ukraine, has long championed the libertarian values associated with cryptocurrency. Its new CEO has promised to stay the course on the company's culture.
Despite reports that the SEC is scrutinizing Coinbase for listing several tokens on its platform the regulatorin a July insider trading lawsuit, Kraken has no plans to remove those tokens from its exchange, Ripley said. In a summer when once-formidable players in the crypto market like Celsius Network and Voyager Digital filed for bankruptcy, and others like Coinbase announced layoffs, Kraken has managed to avoid the market downturn, and is now eyeing opportunities.
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