SEC War on Crypto Continues With Kraken Targeted in Latest Lawsuit
SEC charges Kraken crypto exchange for operating unregistered, alleging it made millions unlawfully. Kraken vows to defend its position....
- The US Securities and Exchange Commission (SEC) has sued Kraken crypto exchange for operating as an unregistered securities exchange, broker, dealer, and clearing agency.
- The SEC claims that Kraken has unlawfully facilitated the buying and selling of "crypto asset securities" since September 2018.
- Kraken plans to vigorously defend its position in court and argues that the SEC's complaint alleges no fraud or breaches of fiduciary duty.
- This is not the first time the SEC has targeted Kraken, as the exchange previously settled with the regulator for $30 million in February.
- The SEC has also sued Coinbase and Binance this year and is still in a legal battle with Ripple.
The sentiment of the article is negative towards the SEC's actions against Kraken, with Kraken planning to defend itself and arguing against the allegations made by the SEC.