The incoming chief executive of crypto exchange Kraken reportedly says that the firm has no plans to register with the U.S. Securities and Exchange Commission (SEC).
According to a newĀ report by Reuters, Dave Ripley, who will take the place of current CEO Jesse Powell, says that Kraken wonāt register with the SEC as a market intermediary or delist tokens the regulatory agency has deemed to be securities.
In July, the SEC reportedly opened anĀ investigationĀ into leading US crypto exchange Coinbase for allegedly offering unregistered securities. At the time, the regulatory bodyĀ classifiedĀ a handful of cryptocurrencies listed on Coinbase as securities.
Ripley says that Kraken has no plans to remove those tokens and wonāt register with the SEC despite Chairman Gary Genslerās calls for crypto exchanges to do so.
However, Ripley does not rule out that Kraken may one day list crypto assets that are securities.
āThere are not any tokens out there that are securities that weāre interested in listing. There could be some new token out there that becomes interesting and also happens to simultaneously be a security [and] in that case, we would potentially be interested in that path.ā
Last week, KrakenĀ announcedĀ that Powell would be stepping down from his role as CEO and instead serve as the companyās chairman of the board of directors.
After he was slated to succeed Powell, Ripley said that his goals would largely mirror that of his predecessor ā to expedite the adoption of digital assets.