Kraken CEO Jesse Powell says the US Treasury's sanctions on Tornado Cash is an overreaction. Speaking with Matt Miller and Kailey Leinz on "Bloomberg Crypto," he adds that he is still very bullish on Bitcoin. Powell also declines to comment on the reports of a federal probe into Kraken for allegedly breaking sanctions.
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Francisco Gimeno - BC Analyst Digital platforms have no way but deal with regulators in US and all around the world. Kraken being one of them. Kraken CEO also goes against Tornado Cash sanctions, as an overreaction of regulators which produce a censorship and goes against anonymity. He believes lawmakers regulators and law enforcers don't understand what is financial privacy, and that crypto is actually empowering lot of people who are unbanked, so there should be more education on what crypto really means in the practical side. At the end is a fight between transparency and privacy on the one side, and the overreaction and defence of the old financial system in the other one. Watch this to hear his opinions on this and more topics.