Kraken CEO Jesse Powell, in a conversation with crypto and privacy advocate Naomi Brockwell, said that there are a lot of legitimate reasons to have financial privacy. He believes privacy coins such as Monero and Dash serve an important person, and it will take a lot of time for governments to understand the benefits of it.
“Financial privacy is like a fundamental right.”
Jesse Powell also emphasized on the importance of educating lawmakers and regulators about the importance and rationale of cryptocurrencies. When asked about the regulations around privacy coins, Powell replied that financial privacy is like a fundamental right. For example, an employer should not be able to track what employees spend their money on. He said that bitcoin transactions can be traced, and substantial information can be retrieved, and that’s why privacy coins are important.
“A story like Satoshi is required for a successful DEX.”
Kraken CEO, when asked about the importance of decentralized exchanges, replied that it would be nice to have DEXs there as we have already seen at least one case of a regulator going after a DEX creator, and in future, we will see more of that. He added that most DEXs are out there in the open, and it is known who the development teams are where they are. He further noted that a story like Satoshi Nakamoto is needed for a successful DEX so the regulators can not throw him in jail or ask to change the protocol.