Jesse Powell, co-founder and CEO of Kraken, has stated that Kraken won’t comply with the New York AG’s inquiry into crypto exchanges. To be fair, Kraken doesn’t operate in New York. Thus, logically speaking, Kraken can reasonably choose not to comply.
On that note, the reason they don’t operate in New York is due to a somewhat similar incident back in 2014 when the whole “BitLicenses” drama began (in both cases Kraken made a conscious choice to avoid what they consider to be questionable stances).
Instead of me trying to second hand summarazie and explain the state of things, I suggest reading Jesse’s tweet yourself (you can also see the article below for the Coindesk.com article he tweeted):
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. //t.co/sta9VuXPK1 pic.twitter.com/4Jg66bia1I
— Jesse Powell (@jespow) April 18, 2018