SEC Accuses Kraken of Operating Unregistered Platform, Kraken Responds

Crypto News
Crypto News

21 Nov 2023 6:28 AM

U.S. SEC has filed a lawsuit against crypto exchange Kraken, alleging the operation of an unregistered securities trading platform....

  • The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against cryptocurrency exchange Kraken for operating an unregistered securities trading platform.
  • The SEC claims that Kraken has provided unregistered crypto trading and transaction services, creating risks for investors.
  • The SEC also alleges that Kraken commingled users' and investors' crypto assets with its own corporate assets.
  • Kraken has responded to the lawsuit, stating that the SEC's complaint does not allege fraud, market manipulation, customer losses, or breaches of fiduciary duty.

The sentiment in the article is negative overall, as it discusses the SEC's legal proceedings against Kraken for operating an unregistered securities trading platform and the alleged risks created for investors.

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You May Ask

What legal proceedings has the SEC initiated against Kraken?What are the allegations made by the SEC against Kraken?How has Kraken responded to the lawsuit?What risks did the SEC claim Kraken created for investors?Which other cryptocurrency exchanges have faced similar lawsuits from the SEC?

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