Kraken CEO Biden Administrations Stance on Cryptocurrency Softening

Dave Ripley, CEO of Kraken, stated in an interview with CNBC on Thursday that the Biden administration is “softening” its stance on cryptocurrencies. He mentioned that earlier this year, the US executive branch strongly opposed cryptocurrencies through the US Securities and Exchange Commission. However, there are many supporters within the US government. Ripley regularly visits Washington and has met with many members of Congress and the Senate, where there are also many supporters. He believes that in the past few months, maybe around two months, they have seen strong support from both parties. Ripley also mentioned in the interview that when people take the time to understand Bitcoin and cryptocurrencies, there is usually a positive outcome.