- Jesse Powell lamented sarcastically after paying a $30M fine to the US SEC.
- SEC chairman stated that Kraken offered a 21% return without risk disclosure.
- Cardano founder sides with the SEC.
Jesse Powell, the CEO of Kraken crypto exchange, lamented on Twitter in a sarcastic tone that he made a wrong decision to pay a $30 million regulatory fine to the US Securities and Exchange Commission (SEC).
Powell expressed the sentiment while reacting to a CNBC interview that featured the SEC chairman, Gary Gensler. In the interview, Gensler stated that Kraken offered the American public a return of 4% to 21% on their crypto tokens without full risk disclosure. The SEC noted that such action was against the laws of the United States.
Gensler added that the required registration was a straightforward process of filling out a form on its official website. To this particular comment, the CEO of Kraken expressed that he felt dumb. He added:
Oh man, all I had to do was fill out a form on a website and tell people that staking rewards come from staking? I wish I’d seen this video before paying a $30m fine and agreeing to permanently shut down the US service.
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