Cryptocurrency Exchange Kraken will not comply with New York inquiry

[coinpediaJordan]

Kraken cryptocurrency exchange will not comply with inquiry and information requested by the New York attorney general. Jesse Powell says he won't follow
Get detail info here: https://coinpedia.org/news/kraken-will-not-comply-with-new-york-inquiry/

[13abyknight]

Kraken cryptocurrency exchange will not comply with inquiry and information requested by the New York attorney general

More bad news for another one of those centralised exchanges that is deemed to be trusted by many. All we can do is wait and watch how things play out and it sure will escalate very quickly if Kraken shows negligence towards the issue.
The switch over to decentralised exchanges seems to be around the corner and exchanges running into trouble is fueling the cause.

[haroldtee]

Hmm... Powell really do have some balls there though, most especially with the last paragraph in the article. Good for them that they already moved out of New York since 2015 and obviously makes them not susceptible to being pounced on.

However, I feel this move by NY is quite an hostile one and if this is how government is intending to play the whole idea of regulation, then, I do not know if we really are on the right path. Obviously like the guy above me said, this would pave way for decentralized exchanges or most exchanges moving to a more crypto-friendly zones that would make business easy.