The New York Attorney General’s office has pointed a finger at cryptocurrency exchange Kraken for “potential” violation of state regulations. Now, the San Francisco–based exchange is firing back, saying it does not appreciate what it sees as implications of illegality.“Someone has to be the voice of reason,” Jesse Powell, Kraken’s outspoken co-founder and CEO, told Bitcoin Magazine. “If we all accept corrupt practices as the norm, without saying anything out of fear of unlawful retaliation, what the hell are we doing this for?” In April 2018, as part of its Virtual Markets Integrity Initiative, the New York Attorney General’s office sent out a voluntary questionnaire to 13 exchanges as part of a “fact-finding inquiry.” Kraken and three other exchanges chose not to respond. “If you want to talk to us, ask us for a phone call, fly yourself out to San Francisco, invite us for lunch at your office,” Powell said. Fast-forward five months and the New York Attorney General’s office has now issued its report on the results of the questionnaire. Within the report is a paragraph stating that the office has “referred Binance, Gate.io, and Kraken to the Department of Financial Services for potential violation of New York’s virtual currency regulations.” The implication was that Kraken could still be allowing New York residents to trade on its platform without a proper license. Three years ago, New York instituted a... For Further Information Click on Below Button