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.