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. They would only consider registration if another token appears “that becomes interesting and also happens to simultaneously be a security,” according to Ripley. A security is defined as an ‘investment contract’ akin to a stock or shares, whereas crypto assets behave more like commodities.
Source
@CryptoWorldAnalysis
