Kraken CEO Dave Ripley described the Biden Administration as "softening" its stance toward crypto during an interview on CNBC Thursday. 

"When we came into this year, the executive branch has been, via the SEC, strongly negative to cryptocurrencies," Ripley said in the interview with CNBC "Squawk Box" host Joe Kernan. "But, there have been many supporters throughout the U.S. government. I visit D.C. periodically and met with many people in Congress, the Senate, and there are a number of supporters there. And I think over the past several, I don't know, maybe two months or so, we've seen kind of strong support — and now bipartisan support as well."

Ripley nodded toward the passage of the Financial Innovation and Technology for the 21st Century Act, or FIT21. The bill aims to …