Jesse Powell, CEO of a leading crypto exchange, Kraken, said that privacy coins serve an important purpose, and they will soon become widely accepted.

Powell said this in a conversation with crypto and privacy advocate, Naomi Brockwell. He claimed that there are a lot of legitimate reasons to have financial privacy. To him, privacy coins such as Monero and Dash serve an important purpose, and it will take much time for governments to understand their benefits.

Powell also emphasized on the importance of educating authorities and regulators about the importance and rationale of cryptocurrencies. Powell sees financial privacy as a fundamental right to everyone. He doesn’t see the need why an employer should be able to track how employees spend their money.

He further argued that Bitcoin is fully anonymous since transactions can be traced, and substantial information can be retrieved. And that is why he is advocating for privacy coins.

The Kraken CEO was also asked about the importance of decentralized exchanges. He replied that it would be nice to have DEXs available. However, as we have already seen at least one case of a regulator going after a DEX creator, Powell believes we will see more of that in the near future.

He added that most DEXs are out there openly operating, and their development teams are well known. Powell further noted that a story like Satoshi Nakamoto is needed for a successful DEX so that the regulators can’t be chasing after them or ask to change the protocol.

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