Kraken rebuffed the Prosecutor General’s office in new York

Kraken rebuffed the Prosecutor General’s office in new York

Cryptocurrency exchange Kraken, based in San Francisco is not going to respond to the recently published request of the attorney General of new York.

Kraken is amongst one of the 13 cryptocurrency exchanges, on Tuesday received a letter from the attorney General of new York Eric Schneiderman to provide detailed information on the activities of platforms for the exchange of cryptocurrencies.

At a time when most of the exchanges in General welcomed the request and said they will fill in the attached form, Kraken chose a different approach.

CEO exchange Jesse Powell has made it clear that Kraken is refusing to cooperate with the authorities of the state:

“I realized how wise was the decision to leave new York city three years ago. Now we can Dodge this bullet”.

In 2015, Kraken has announced that he is leaving the state because of cryptocurrency regulatory framework Regulations.

At that time, the exchange has published in his blog a message in which he called the law “as dirty and cruel, that even the Kraken does not have the courage and strength to face this nasty, big and sharp teeth.”

Powell wrote Wednesday that Kraken usually happy to interact with public authorities, but criticized the approach of the attorney General, adding:

“Why don’t you try to extract this information from the companies that actually work in your state?”

A spokesman for the General Prosecutor’s office commented on the remarks of Powell:

“Legitimate companies usually demonstrate to their investors that their money is protected. This is the main information that needs to provide a reliable platform.”

Although Kraken isn’t the only exchange, which left new York due to Regulations, the state authorities continue to extol regulations:

“The regulatory structure that we created for the virtual currency, helped the licensed companies to attract more interest from customers, investors and potential partners in financial services,” said last week the head of the Department of financial services new York Mary Vullo .

However, lawmakers are considering revising the framework Regulations or even its complete abolition.

The full text of the statement by Powell regarding the situation:

“Due to the introduction of Regulations Kraken the care of the state of new York in 2015, has today brought its dividends. When I saw the requirements of 34 points with a maturity of two weeks, I immediately thought, “the Nerve of these guys, lack of respect for our business, this is our hour!” … I also realized that we made a wise move, deciding to hell to leave new York three years ago. As a rule, we are always ready to help the government to understand our business, but it is not done this way. If you want us to talk, arrange a telephone call, arrive, finally, themselves in San Francisco, invite us to dinner in your office. We can tell you where to begin your investigation. But when is new York going to say “enough”? We have already gone through this once, and you gave us your Regulations. Why don’t you try to get information from those companies that operate in your state? Kraken left new York, because the state pursues a hostile policy towards cryptocurrency industry, and we received the list of questions shows that you are negative not only the cryptocurrency industry, but to business in General.”

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