SEC Goes After Kraken, Sues Exchange For Failing To Register
The United States Securities and Exchange Commission has sued cryptocurrency exchange Kraken for operating as an unregistered securities exchange, broker, dealer, and clearing agency....
- The United States Securities and Exchange Commission (SEC) has sued cryptocurrency exchanges Kraken, Coinbase, and Binance for operating as unregistered securities exchanges, brokers, dealers, and clearing agencies.
- The SEC alleges that Kraken has been illegally operating as a securities exchange without registering with the regulator.
- SEC Chair Gary Gensler aims to bring crypto under the agency's jurisdiction and argues that digital assets are subject to federal securities laws.
- The SEC claims that Kraken has facilitated the buying and selling of crypto asset securities without registering, acted as a broker, dealer, exchange, and clearing agency, and mishandled customer information.
- Kraken plans to defend itself against the SEC's action and believes that Congress should decide how to regulate crypto exchanges.
The sentiment in the article is negative towards Kraken, as it is being sued by the SEC for alleged illegal operations and mishandling customer information. Kraken, on the other hand, plans to defend itself and disagrees with the SEC's view on digital assets.