SEC sues Kraken alleging it violated securities laws


20 Nov 2023 10:45 PM

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.

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