Kraken Co-CEO Arjun Sethi stated at the White House crypto conference that the industry's goal is to provide all Americans with the same opportunities for success as early practitioners, reiterating Kraken's philosophy of "fixing money, fixing the world."

Sethi attended the event alongside Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev, Ripple CEO Brad Garlinghouse, and Intercontinental Exchange CEO Jeffrey Sprecher, with SEC Chairman Paul Atkins, CFTC Chairman Michael Selig, and White House crypto advisor Patrick Witt also present.

Trump urged Congress to pass a "fair version" of the CLARITY Act at the conference. This bill aims to establish clearer regulatory boundaries for the digital asset market but is currently stalled in the Senate and has not yet become law; the industry hopes it will reduce legal uncertainties around trading, custody, staking, and token issuance.

Kraken's stance reflects the core demand of trading platforms for access to the U.S. market: whether ordinary users can hold, trade, pay, and use digital assets through regulated channels depends on specific systems such as bank account access, customer identity verification, custody arrangements, consumer protection, and tax reporting, rather than just whether tokens are tradable.

Kraken has faced regulatory compliance pressures in its U.S. operations, reaching a $30 million settlement with the SEC over its staking services in 2023 and halting on-chain staking services for U.S. customers; the company has since continued to push for the expansion of payment, trading, and financial products within a compliant framework to reduce its reliance on regulatory gray areas.

In market mechanisms, ordinary users are potential buyers of crypto financial services, while exchanges, custodians, stablecoin issuers, payment networks, and banks are the service providers; clear policies will reduce compliance risks for account opening, token listing, and product development, making it more likely for order flow and user assets to shift from offshore platforms or self-custody friction scenarios to U.S. regulated platforms. Beneficiaries will be operators with licenses, risk control, liquidity, and fiat deposit and withdrawal capabilities; platforms unable to bear the costs of KYC, market monitoring, and customer asset protection will be under pressure.

Source: Public Information