Kraken Co-Founder Slams SEC’s ‘Assault on America’

Coin Edition
Coin Edition

21 Nov 2023 6:40 AM

The Securities and Exchange Commission alleges Kraken of facilitating illegal trading of crypto securities since 2018. Read more on CE....

  • The U.S. Securities and Exchange Commission (SEC) has sued cryptocurrency exchange Kraken for allegedly violating federal securities laws.
  • Kraken CEO Dave Ripley strongly disagrees with the allegations, stating that Kraken does not list securities.
  • Co-founder Jesse Powell criticized the SEC, calling them masochists and characterizing their actions as an assault on America.
  • The SEC accuses Kraken of operating as an unregistered securities exchange, broker, dealer, and clearing agency, facilitating illegal trade of crypto asset securities since 2018.
  • Kraken expresses strong disagreement with the SEC's claims and plans to vigorously defend its position.
  • Both Ripley and Powell believe that Congress should be involved in implementing comprehensive crypto regulatory rules to bring clarity and certainty to the industry.

The sentiment in the article is negative, with the SEC suing Kraken and both the CEO and co-founder criticizing the SEC's actions.

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