Thursday, April 19, 2018

Cryptocurrency exchange Kraken gives middle finger to NY Attorney General on their demands for operational and IP data

The newest battle between cryptocurrencies and the hacks who function at the whims of Wall Street appears to be taking shape as the CEO of the cryptocurrency exchange Kraken has denied the state of New York's Attorney General access to their operations and IP data in the wake of the AG's office demanding access to this information.

The head of a major cryptocurrency exchange will not comply with the New York attorney general's request for information. 
"The resource diversion for this production is massive. This is going to completely blow up our roadmap!" Kraken co-founder and CEO Jesse Powell said Wednesday on Twitter. 
"Then I realized we made the wise decision to get the hell out of New York three years ago and that we can dodge this bullet," Powell said. "Ordinarily, we're happy to help government understand our business, however, this is not the way to go about it." 
Schneiderman's office asked 13 cryptocurrency exchanges on Tuesday to complete a questionnaire by May 1 to share details on areas such as ownership, fees, trading suspensions and money laundering. 
Powell said the last time exchanges complied with New York's request for information, they were encumbered with the BitLicense. "Kraken left New York because New York is hostile to crypto and this 'questionnaire' we received today proves that New York is not only hostile to crypto, it is hostile to business," he said. - CNBC

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