SEC sues Kraken alleging it violated securities laws
The SEC has sued Kraken alleging it violated multiple U.S. securities laws, including operating an unregistered exchange....
- The United States Securities and Exchange Commission (SEC) has sued Kraken for failing to register as an exchange, broker, dealer, and clearing agency.
- The SEC claims that Kraken has been operating as a platform offering the unlawful sale of cryptocurrencies since 2018.
- Kraken's business practices and internal controls are alleged to be deficient, resulting in the commingling of customer assets with its own.
- This commingling poses a significant risk of loss for Kraken's customers.
The article presents a negative sentiment towards Kraken, as it is being sued by the SEC for various allegations, including failing to register and commingling customer funds.