Monday, April 12, 2021

CEO of a Top Bitcoin Exchange Warns a Crackdown on Cryptocurrencies May Be Coming

“I think there could be some crackdown [on cryptocurrencies]” Jesse Powell, CEO of Kraken, told CNBC in an interview.

“Something like that could really hurt crypto and kind of kill the original use case, which was to just make financial services accessible to everyone,” he said.

“I hope that the U.S. and international regulators don’t take too much of a narrow view on this,” Powell continued.

Kraken’s CEO said he feels the U.S. is more “shortsighted” than other nations and “susceptible” to the pressures of incumbent legacy businesses — in other words, the banks — that “stand to lose from crypto becoming a big deal.”

Kraken is the world’s fourth-largest digital currency exchange in terms of trading volume.


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