Kraken Donates $1 Million to Blockchain Advocacy Group Coin Center

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There are just a few things the cryptocurrency community enjoys greater than outspokenness – except, perhaps, putting your money where your mouth is. Jesse Powell, Chief executive officer Kraken, have donated one million dollars to the non-profit Coin Center on Monday night in the advocacy organization’s yearly gala in new york. Kraken also vowed to match any contribution to Coin Center till the end of the month, up to $1 million. It had been the largest single contribution made to the Coin Center, &quot’said Neeraj Agrawal, spokesman for Washington, D.C.-based think tank. Kraken, according to San Francisco, California, is not any stranger into the regulatory minefield Coin Center tries to defuse and construct bridges across.

Back in Apr, Kraken was one of 13 exchanges which received a question regarding internal control and safeguards to defend consumer assets from former NY Attorney General Eric Schneiderman. Unlike many competitors, Powell refused to react, stating his exchange can dodge this bullet since it left NY in 2015, spurred by what he called the nation’s onerous regulatory approach. Kraken’s donation won Powell a round of applause. Sporting a baseball cap, the long haired maverick entrepreneur didn’t make any comments, letting the donation talking for itself. Satoshi walks into a pub. Nearly as warmly received was the litany of cryptocurrency themed jokes given by Coin Center’s director of research, Peter Van Valkenburgh.

Fork: really a phrase that usually is not in need of translation for the typical person, you might be holding one right now, Van Valkenburgh told the audience of finely attired crypto veterans munching on their very first course. He added: To cryptocurrency enthusiasts, this translates pretty directly to: complimentary coins. And I would add that, to their taxation lawyer, this translates to: fuck.'” . Jokes aside, the topic of the night was the importance of coming together as a community to curtail stifling regulation through transparency and education. Coin Center manager Jerry Brito said a representative from the non-profit has attended each congressional hearing associated with cryptocurrency since 2013.

As several cryptocurrency industry specialists said earlier on this day in a panel in Consensus 2018, the present regulatory environment for lawful exchanges might be aptly described as a mess.” . As ironic as it might look, Brito told the audience contributions such as Powell’s help the community struggle to the cypherpunk dream” . Bitcoin and bucks picture via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that tries for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Sources:
coindesk.com
internal controls and safeguards to protect consumer assets
Unlike many competitors
dodge this bullet
to their tax attorney
panel at Consensus 2018
Bitcoin and dollars image
strict set of editorial policies

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