SEC Sues Kraken for Unregistered Crypto Trading Operations

November 21st, 2023
The SEC has filed a lawsuit against Kraken for operating a cryptocurrency trading platform without proper registration. Accused of acting as a broker, dealer, and exchange for crypto assets considered securities under U.S. law, Kraken allegedly bypassed investor protection regulations, commingled funds, and lacked adequate internal controls, posing significant risks.
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