Kraken Accused by SEC of Operating Unregistered Platform, Improperly Mixing Customer Funds

“We disagree with the SEC’s complaint against Kraken, remain firm that we do not cotton and plan to vigorously defend our position,” Kraken said in a statement. “The SEC has repeatedly challenged crypto exchanges to come register without a single law supporting their position and without a clear path to registration. And despite opposition from lawmakers, the SEC continues to bring challenges lawsuits against these crypto exchanges. For years, we have advocated for effective regulation of the U.S. market that addresses the unique risks and benefits that crypto presents to all individuals. We believe congressional action is the right path forward. more appropriate to address the lack of regulatory clarity in the U.S. It is disappointing to see the SEC continue down this path of regulation by enforcement, which harms U.S. consumers, inhibits innovation, and harms U.S. competitiveness in the future. global scale.