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SEC sues Kraken exchange

The statement from the SEC indicated that Kraken conducted its operations without proper registration, leaving investors devoid of several safeguards.

The SEC’s complaint highlighted that Kraken’s business methodologies, insufficient internal controls, and substandard registration process presented multiple risks to its clients.

SEC sues Kraken exchange

Moreover, the exchange accused Kraken of commingling funds, alleging that it also utilized customer assets to cover its operational expenses.

“The SEC’s complaint also alleges that Kraken’s business practices, inadequate internal controls, and poor registration mechanism pose a number of risks to customers.”

The exchange claimed that Kraken was mixing funds, claiming that it also paid out of customer assets for its own operational expenses.


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