Jesse Powell reveals which coins Kraken might add or remove

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Nov 2, 2021
  • Jesse Powell, the CEO of Kraken, recently spoke about the regulatory situation in the US.
  • He said that the regulators are not helping make matters clear.
  • But, he noted that he has no concerns of having to remove coins from the platform due to the SEC.

Jesse Powell, the co-founder and CEO of a well-known crypto exchange called Kraken, recently spoke about the platform in a recent interview, as well as its plans, its views on the competitor field, as well as coins that might be listed or removed in the near future.

Since Kraken is Coinbase’s major competitor, and Coinbase is now moving into the NFTs, Powell was asked whether the exchange is doing anything similar. Powell said that the exchange is going into staking, parachain options, but also more traditional payment services. Still, he believes that all platforms are converging on a similar feature set.

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He also revealed that Kraken is moving towards stock trading, banking services, and other traditional financial services.

No coins or tokens are expected to leave Kraken

He was next asked to comment about Robinhood’s recent decision to not add any new tokens until the crypto industry gets some regulatory clarity and Kraken’s own stance on the matter. Since regulators are now hunting down unregistered securities, so Powell was asked whether the exchange expected to have to take some tokens down.

He said that the exchange has a very robust listing process, which is why the exchange doesn’t expect that it will have to take anything down. With that in mind, any asset that Kraken has available in the US is likely not a security, according to the exchange and its CEO. However, he did comment on Robinhood’s decision, noting that waiting for regulatory clarity might take a long time since there are now people and even businesses who have been waiting for a decade now.

Meanwhile, those who have entered the crypto space had to accept that there is some gray area, as the regulators do not seem interested in doing much to resolve these issues and clarify anything for the industry.

He also noted that he believes that people are coming to crypto for its utility and the fact that they don’t have to worry about the worst-case scenarios that are so common with traditional banking.

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