Although the Securities and Exchange Commission (SEC) has identified some tokens as securities and called for cryptocurrency platforms to register with the agency as exchanges, crypto exchange Kraken reportedly does not plan to delist the tokens or register with the SEC.
Instead, Kraken’s incoming CEO, Dave Ripley, said the company will continue as it is because it does not offer securities, Reuters reported Friday (Sept. 23).
“There are not any tokens out there that are securities that we’re interested in listing,” Ripley said in the report. “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.”
Ripley added that Kraken would consider acquisitions of companies as it adds a non-fungible token (NFT) platform and institutional client banking services to its portfolio of products and technologies, according to the report.
PYMNTS has reached out to Kraken for comment.
Kraken announced Wednesday (Sept. 21) that Ripley, who is currently the company’s chief operating officer, will succeed Jesse Powell as CEO, as Powell is stepping down from that position but remaining with Kraken as chairman.
Read more: Kraken CEO Jesse Powell, Crypto’s First Banker, Steps Down
As PYMNTS reported Sept. 11, the SEC will add an Office of Crypto Assets, together with other new offices, to its Division of Corporate Finance’s Disclosure Review Program (DRP).
See more: SEC to Form Office for Filings Involving Crypto Assets
The Office of Crypto Assets will do the work currently done across the DRP to look over filings involving cryptocurrencies, and the SEC said this will help focus resources and expertise pertaining to crypto.
Two days earlier, on Sept. 9, PYMNTS reported that SEC Chair Gary Gensler supports giving more cryptocurrency oversight to the Commodity Futures Trading Commission (CFTC) because regulatory bodies must establish clear policies to best protect investors.
Read more: SEC Chair Gensler Backs Granting CFTC More Crypto Oversight
Gensler also reiterated that he continues to believe that most cryptocurrencies are securities and that crypto trading platforms should be required to register with the SEC.
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