Kraken new CEO said he sees no reason to register with the SEC as an exchange.

Its new CEO has promised to stay the course on the company's culture.

Ripley will take the helm of Kraken not only at a time when the crypto market is facing a major rout, with bitcoin down nearly 60% this year, but also as the fast-growing industry has been at odds with regulators like the SEC.

Ripley added Kraken also sees no reason to register with the SEC as an exchange because his company does not offer securities, despite calls from SEC Chair Gary Gensler for crypto platforms to register.

"To the extent that there are opportunities for M&A in this environment, and perhaps if it's a company that is actually going through a bankruptcy process, then that's a potential for us to consider for sure," said Ripley, adding the company has not made any moves yet.
Source: NDTV
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