Kraken Co-Founder Jesse Powell: SEC 'USA's Top Decel' - Decrypt


21 Nov 2023 12:17 PM

Powell accused the SEC of extortion after the regulator leveled new charges at the crypto exchange, including commingling customer funds....

  • Kraken co-founder Jesse Powell criticizes the U.S. Securities and Exchange Commission (SEC) after the regulator filed charges against the exchange.
  • Powell accuses the SEC of shopping for a different regulatory approach in California after facing legal issues in New York.
  • The SEC alleges that Kraken operated as an unregistered securities exchange and commingled customer assets with company funds.
  • Kraken previously settled SEC charges with a $30 million fine and agreed to halt its staking service in the U.S.
  • Powell argues that the SEC is extorting crypto companies and advises them to leave the U.S. warzone.

The sentiment of the article is negative towards the SEC's actions and portrays Kraken as a victim of regulatory pressure.

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