Recently, the Kraken-crypto-currency exchange, was contacted by the office of the New York Attorney General, the demanded information about the modus Operandi and other tax-related Details of the exchange. Unlike many other crypto stock exchanges, which fulfill such a request in the rule, refuses Kraken’s CEO of the request.
“It is not okay. It is offensive,“ said Jesse Powell, in a Tweet referring to this and past information requests received by the stock exchange, which he helped to found already.
Three years ago, the Kraken exchange, and may be left with a whole number of crypto-currency Start-ups – the state of New York due to the nationwide enforcement of the BitLicense. To provide some context, BitLicense New York’s Approval marking, which is mandatory for all companies, which are trading with digital currencies, regarded so as a “money transmitter”. In other words, companies that hold client money – mostly stock, had to apply for a BitLicense, a process that would cost due to the complexity of the paper costs between 50,000 and 100,000 US dollars.
NYAG’s request, brings a long history with
On Tuesday, the office of the New York attorney General released a Statement in which it announced that it had sent 13 crypto exchanges a survey, “in order for investors to be able to risk better understand”. This questionnaire, the on 1. May have been due, appeared for Powell as a tremendous waste of time and resources for the multi-million-Dollar company.
“The resources of deflection for this type of production is massive. This will blow up in our Roadmap! “
Powell quickly realized the fact that Kraken is no longer based in New York, his company had to fill out the survey inevitably. “Normally, we do not look forward to explaining the state of our company, this is done here, however, is on the right way,” he said in reference to the enormous burden of paperwork and the legal procedures that you would have to go through to complete the questionnaire.
Somebody has to say what everybody’s actually thinking about the NYAG’s inquiry. The placative kowtowing toward this kind of abuse sends the message that it’s ok. It’s not ok. It’s insulting. https://t.co/sta9VuXPK1 pic.twitter.com/4Jg66bia1I
— Jesse Powell (@jespow) April 18, 2018
The cryptographic stock exchange Gemini filled in the questionnaire:
“Gemini welcomes the focus of the attorney-General on this industry, and the Virtual Markets Initiative, and we look forward to the cooperation and the submission of our answers to the questionnaire,” said Tyler Winklevoss, CEO of Gemini, in an Interview with CNBC.
The announcement for the information of the questionnaire was announced by Amy’s hospital nick, the spokesperson for the New York attorney General Eric Schneiderman.
“Legitimate companies want to show their investors, in General, that your money is protected,” she argued.