SEC sues Kraken alleging it violated securities laws

• 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.