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Cryptocurrencies
Published April 13


KRAKEN CEO CONFIRMS PUBLIC OFFERING TO COME IF OVER-REGULATION DOESN’T FORCE THE
PLATFORM ‘OUT OF THE COUNTRY’


JESSE POWELL SAYS US CRYPTO REGULATORS ARE THE 'MOST SEVERE' GLOBALLY

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By Angelica Stabile FOXBusiness
close



KRAKEN CEO: WE MAY BE REGULATED OUT OF THE COUNTRY

Kraken CEO Jesse Powell on what separates Kraken's trading platform from
Coinbase and how U.S. companies are at a disadvantage compared to other
countries.

Cryptocurrency exchange platform Kraken is working quickly to launch an IPO on
the tail of competitor Coinbase, but CEO Jesse Powell told FOX Business’ "The
Claman Countdown" that growing regulations are a potentially concerning
obstacle.



"The U.S. regulators have historically been among the most severe
internationally," he said. "We’re dealing with the SEC and the CFDC on a regular
basis. They’re asking us to shut down products that they’re not able to shut
down for international competitors. So they’re putting U.S. companies at a
disadvantage."

Powell confirmed Tuesday that Kraken is looking to launch its public offering
within the year, specifically in the second half of 2021, but it’s still "on the
table" whether the platform remains a U.S. company or not.

BITCOIN REACHES RECORD HIGH AHEAD OF COINBASE IPO

"We may be forced out of the country by over-regulation, or by the enforcement
guys not talking to the policy guys and not having, kind of, a national strategy
on cryptocurrency," he said. 

close
video


COINBASE TO START TRADING ON NASDAQ AS BITCOIN HITS RECORD HIGH

Barron's Financial Markets reporter Carleton English provides insight on 'FOX
Business Tonight'



The CEO mentioned former CIA director Michael Morrell’s new study regarding the
security of crypto which states Bitcoin is least used for illicit transactions
and warns the government should be more worried about China getting ahead.

CLICK HERE TO READ MORE ON FOX BUSINESS

"I think it’s something that the United States can be dominant at," he said.
"But there are other countries competing and I think we could fall behind by
shooting ourselves in the foot."



If necessary, Powell said Kraken would consider relocating to Tokyo, the U.K.,
or the UAE where cryptocurrency regulations are "very robust" and
business-friendly.

Kraken is focused on "bringing crypto to the masses," especially in the consumer
space, Powell said, offering customers access to financial services that are not
always available.

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Legal Statement. Mutual Fund and ETF data provided by Refinitiv Lipper.

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