SEC Files Lawsuit Against Kraken
The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Kraken, claiming that it failed to register as a securities exchange
The SEC also alleges that, to date, Kraken has operated unlawfully
In response, Kraken disagrees with the SEC's complaint and plans to defend itself in court
The lawsuit further alleges that Kraken's business practices led to the commingling of up to $33 billion of customer funds
However, Kraken denies these accusations, stating they never listed unregistered securities.