Kraken CEO: We May Be Forced Out of Country
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Kraken Chief Executive, Jesse Powell, thinks there is still a chance the exchange might be forced out of the United States due to "over-regulation." In an interview with Fox Business, Powell said the watchdogs ask Kraken to close products that they are"not able to shut down for international competitors."

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"We are dealing with the SEC and the CFDC on a regular basis. They are asking us to shut down products that they are not able to shut down for international competitors. So they are putting US companies at a disadvantage," the Kraken CEO said.

Powell also said the exchange might relocate to other "business-friendly" countries like Japan, the UAE or the UK. In October last year, the UK's Financial Conduct Authority (FCA) banned the sale of crypto derivatives and exchange-traded notes (ETNs) to retail investors. According to the regulator, retail consumers cannot "reliably assess" the value and risks of derivatives.

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Also in October, Ripple's Executive Chairman, Chris Larsen, said the fintech company might leave the US overseas in response to excessive regulation. According to Larsen, the company was "increasingly frustrated" over a hostile attitude to the crypto market from the federal government, and the SEC.

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