Kraken CEO Refuses to Comply with New York’s Crypto Exchange Probe

Kraken CEO Jesse Powell had strong words for New York regulators who sought to compel the San Francisco-based exchange to participate in its new Virtual Market Integrity Initiative, which demands that trading platforms be more transparent.

Earlier this week, New York Attorney General Eric Schneiderman began an inquiry into the operations of popular cryptocurrency exchanges. As part of the probe, his office sent detailed, 34-point questionnaires to 13 different exchanges — including Kraken — who were instructed to complete the forms by the beginning of May. Most exchanges responded positively to the letters, stating publicly that they were looking forward to cooperating with the AG’s inquiry and increasing transparency in the nascent space.


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