Kraken CEO Denounces New York Attorney “Questionnaire” Stating; Kraken Won’t Comply

Kraken CEO Denounces New York Attorney “Questionnaire” Stating; Kraken Won’t Comply

cryptocurrency exchange
April 19, 2018 by Bitzamp
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Kraken CEO Denounces New York Attorney “Questionnaire” Stating; Kraken Won’t Comply Eric T. Schneiderman, Attorney General of New York, sent questionnaires to 13 cryptocurrency exchanges to better understand how they operate and protect the investments of their clients. And what crypto exchanges are doing to fight bots, money laundering and market manipulation. Also Read: New
Bitzamp

Kraken CEO Denounces New York Attorney “Questionnaire” Stating; Kraken Won’t Comply
Eric T. Schneiderman, Attorney General of New York, sent questionnaires to 13 cryptocurrency exchanges to better understand how they operate and protect the investments of their clients. And what crypto exchanges are doing to fight bots, money laundering and market manipulation.

Also Read: New York Wants Crypto Exchanges To Be More Transparent; Winklevoss says he’ll comply

Kraken was one of 13 exchanges that received a letter from New York Attorney General Eric Schneiderman. While most of the exchanges generally welcomed the inquiry, Jesse Powell, CEO of Kraken, denounce the “questionnaire” and said Kraken would not hand over any information about its business.

The CEO and co-founder of cryptocurrency exchange Kraken defended the company’s refusal to comply with the regulatory “questionnaire” sent by New York lawmakers.
Powell made it clear that Kraken has no intention of answering the questionnaire, saying:

I realized that we made the wise decision to get the hell out of New York three years ago and that we can dodge this bullet.

Powell said that although Kraken is happy to engage with governments, it doesn’t like the approach of New York AG. He asked:

“Why don’t you try extracting this information from those businesses actually operating in your state?”

On the other hand, the response to Powell’s observations was not long in coming either. A spokesperson for the New York AG’s office responded to his comments in this way:

“Legitimate entities generally like to demonstrate to their investors that their money will be protected. This is basic information that credible platforms should all have on hand.”

Jesse Powell’s response to the New York Attorney General’s office found massive support from the cryptocurrency community, including heavyweight executives within the industry such as Erik Voorhees, Chief Executive Officer of ShapeShift.


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