SEC Sues Kraken for Operating as Unregistered Securities Exchange, Seeks Remedies

November 21, 2023 at 03:16 AM (UTC)

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Kraken, a major cryptocurrency exchange, alleging that it operated as an unregistered securities exchange, broker, dealer, and clearing agency, violating the 1934 Securities Exchange Act. The SEC seeks remedies including injunctions, disgorgement of gains with interest, and penalties. Kraken has stated its disagreement with the claims and plans to vigorously defend its position. The lawsuit also accuses Kraken of improperly mixing customer funds and identifies 16 crypto tokens as securities in the lawsuit.

#SEC #Kraken #Securities Exchange Act

This story was written 11 days ago using gpt-3.5-turbo-1106.

Sources

CoinDesk@CoinDesk
15 days ago
The @SECGov has sued @krakenfx as an unregistered crypto platform, much like the cases against exchanges Coinbase and Binance, but it's added a complaint about comingling customer funds. https://t.co/CJ339ArpJE
Bloomberg Crypto@crypto
16 days ago
The US Securities and Exchange Commission accused crypto exchange Kraken of operating an unregistered trading platform, intensifying the agency’s clampdown on the digital-asset sector https://t.co/g1qeLXkJnO
Bitcoin.com News@BTCTN
17 days ago
#SEC Identifies 16 #Crypto Tokens as Securities in #Kraken Lawsuit https://t.co/TIeu7V2E40
CoinDesk@CoinDesk
17 days ago
Crypto exchange @krakenfx commingled customer and corporate funds while operating as an unregistered broker, clearing agency and dealer, the @SECGov alleges. https://t.co/nlpYf6ldXX https://t.co/LpqiVxO0pN
GuruLeaks@Guruleaks1
18 days ago
SEC Charges Kraken for Operating as an Unregistered Securities Exchange, Broker, Dealer, and Clearing Agency https://t.co/pKr6fCF2Bc @krakenfx #btc #eth #crypto
The Hill@thehill
18 days ago
The Securities and Exchange Commission (SEC) has sued Kraken, accusing one of the world’s largest cryptocurrency exchanges of illegally operating as a securities exchange without first registering with the regulator https://t.co/GOe4JFQVJD https://t.co/uLtH2JI0Jq
Bitcoin.com News@BTCTN
18 days ago
The #SEC has sued #Kraken, alleging that the #crypto platform operates as an unregistered securities exchange, broker, dealer, and clearing agency. https://t.co/ZdPfUIzA5q
Silicon Republic@siliconrepublic
18 days ago
#MustRead: Kraken, one of the world’s biggest crypto exchanges, has been charged by the US Securities and Exchange Commission (SEC) for allegedly operating as an unregistered securities business. https://t.co/NDMXsClH5X
CoinDesk@CoinDesk
18 days ago
Crypto exchange @Kraken commingled customer and corporate funds while operating as an unregistered broker, clearing agency and dealer, the @SECGov alleges. https://t.co/nlpYf6ldXX https://t.co/qBc23lAqMS
Bitcoin News@BitcoinNewsCom
18 days ago
NEW: Kraken denies 🇺🇸 SEC allegations of operating as an unregistered national securities exchange, broker, and clearing house and promises to "vigorously defend its position" 👀🍿 https://t.co/naqRWVpQ4A
Finextra@Finextra
18 days ago
SEC sues crypto exchange Kraken https://t.co/JvZLvohTxy
Forbes@Forbes
18 days ago
The Securities and Exchange Commission sued Kraken, one of the largest cryptocurrency exchanges, on Monday. https://t.co/RSijMtaR7G
Open Outcrier@OpenOutcrier
18 days ago
US SEC sues Kraken crypto exchange over failure to register - Reuters https://t.co/xNu8GrxRCq
Silicon Republic@siliconrepublic
18 days ago
Kraken, one of the world’s biggest crypto exchanges, has been charged by the US Securities and Exchange Commission (SEC) for allegedly operating as an unregistered securities business. https://t.co/NDMXsClH5X
Mando@rektmando
18 days ago
🟥 Things I’m looking at today 🟥 Kraken faces SEC lawsuit, Binance could get $4bn fine, Blur launches new L2 Crypto * BTC: 37.2k (0%), ETH: 2005 (-2%), SOL: 56 (-8%) * Kraken faces SEC lawsuit for listing ‘securities’ * Coins mentioned include SOL, ADA, MATIC * Kraken CEO… https://t.co/OWog0koy1T https://t.co/7syR8cOibH
Barron's@barronsonline
18 days ago
SEC Sues Kraken as Crypto Exchange Crackdown Continues. Why Bitcoin Is Holding Steady. https://t.co/m57dICgpaI
🐍Salazar.eth 🦇🔊@0xSalazar
18 days ago
🚨 Some Major news from yesterday🚨 - Binance Holding Ltd. asked to pay $4B by the US DOJ to settle accusations of multiple criminal violation - SEC accuses Kraken of mingling customer and corporate funds while functioning as an unregistered broker, clearing agency, and dealer.… https://t.co/PRDwzZJlTq https://t.co/OTVlFKYpWE
Cointelegraph@Cointelegraph
18 days ago
The crypto community is once again ignited with reactions after the U.S. SEC files a lawsuit against cryptocurrency exchange Kraken with allegations of operating as an unregistered exchange, among other accusations. https://t.co/RiMlal1e4D
crypto.news@itscrypto_news
18 days ago
The U.S. Securities and Exchange Commission has filed a lawsuit against Kraken, accusing it of illegal securities operations https://t.co/zglWGh36MA
Silicon Republic@siliconrepublic
18 days ago
SEC releases the Kraken on US crypto exchange https://t.co/NDMXsClH5X
Bitcoin.com News@BTCTN
18 days ago
#SEC Sues #Kraken: #Crypto Exchange Plans to 'Vigorously Defend' Its Position in Court https://t.co/ZdPfUIzA5q
The Block@TheBlock__
18 days ago
ICYMI: SEC files new lawsuit against Kraken for allegedly operating online trading platform without registering https://t.co/4ESSlpCetD
Open Outcrier@OpenOutcrier
18 days ago
SEC Charges Kraken for Operating as an Unregistered Securities Exchange, Broker, Dealer, and Clearing Agency https://t.co/1CGx6LSOaE
Reuters@Reuters
18 days ago
US SEC sues Kraken crypto exchange over failure to register https://t.co/tYtAfe4CrU https://t.co/SpiOrvrmZB
Reuters Business@ReutersBiz
18 days ago
US SEC sues Kraken crypto exchange over failure to register https://t.co/s1KPZd1ekW https://t.co/fmVIq5rafs
CoinGecko@coingecko
18 days ago
NEWS: US SEC has sued Kraken crypto exchange, alleging it failed to register with the regulator as a securities exchange, broker, dealer and clearing agency. 📰 https://t.co/iJVTndtwvR https://t.co/cmCXpcl1Hp
Barbarian Capital@BarbarianCap
18 days ago
Kraken sued by SEC in latest clampdown on crypto exchanges https://t.co/NfkyerAVZa
Laura Shin@laurashin
18 days ago
Crypto exchange giant Kraken on Monday became the latest major crypto exchange to face a lawsuit by the Securities and Exchange Commission (SEC) for allegedly violating securities law. @JPRubin23 writes https://t.co/plQ5ZCk75k
web3 is going just great@web3isgreat
18 days ago
Kraken sued by U.S. SEC November 20, 2023 https://t.co/5Ek9we4htE https://t.co/JA1hlOUTFN
Forbes@Forbes
18 days ago
SEC Sues Kraken In Latest Crackdown Against Crypto Exchanges https://t.co/ROPNoeyMW8 https://t.co/BdzmmuwWFx
Financial Times@FT
18 days ago
Kraken sued by SEC in latest clampdown on crypto exchanges https://t.co/wJGNqqUUjF
Watcher.Guru@WatcherGuru
18 days ago
JUST IN: Kraken crypto exchange says they will "vigorously defend" themselves against the SEC.
Whole Mars Catalog@WholeMarsBlog
18 days ago
SEC Charges Kraken for Operating as an Unregistered Securities Exchange, Broker, Dealer, and Clearing Agency https://t.co/Hb467RM5uG
LongConvexity@LONGCONVEXITY
18 days ago
Kraken Accused by SEC of Operating Unregistered Platform, Improperly Mixing Customer Funds https://t.co/NjTPauxrNX via @coindesk
Axios@axios
18 days ago
SEC sues crypto company Kraken for operating unregistered exchange https://t.co/W9GL4k7BzZ
Joe Saluzzi@JoeSaluzzi
18 days ago
SEC Charges Kraken for Operating as an Unregistered Securities Exchange, Broker, Dealer, and Clearing Agency https://t.co/UgmAEXr4pz
Kraken Exchange@krakenfx
18 days ago
Today, the SEC filed a complaint alleging that Kraken operates as an unregistered national securities exchange, broker, and clearing house. We disagree with their claims and plan to vigorously defend our position. https://t.co/a0C4wzBo3f
Wu Blockchain@WuBlockchain
18 days ago
The SEC has charged Kraken for operating as an unregistered securities exchange, broker, dealer, and clearing agency, alleging violations of the 1934 Securities Exchange Act and seeking remedies including injunctions, disgorgement of gains with interest, and penalties.… https://t.co/vLCmOfmkV8
exlawyer.eth/tez@exlawyernft
18 days ago
Less than a year ago, Kraken settled a case with the SEC over its staking service. Today, the SEC sued Kraken for operating an unregistered security exchange. Lesson: never negotiate with bullies and financial terrorists - which is exactly what Gary Gensler and the SEC are.
Techmeme@Techmeme
18 days ago
In a lawsuit, the US SEC accuses Kraken of commingling customer and corporate funds while operating as an unregistered broker, clearing agency, and dealer (@nikhileshde / CoinDesk) https://t.co/aTGdMyyE01 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/MMPlUrSUaD
Sam Callahan@samcallah
18 days ago
Kraken got hit with a new lawsuit from the SEC. The lawsuit claims: 1.) Kraken Fails to Separate the Competing Functions of Its Business "the functions of “exchanges,” “broker-dealers,” and “clearing agencies” described above are typically carried out by separate legal… https://t.co/wxQjZRWSr6
Bloomberg Technology@technology
18 days ago
The US Securities and Exchange Commission accused crypto exchange Kraken of operating an unregistered trading platform, intensifying the agency’s clampdown on the digital-asset sector https://t.co/EtHvSuWAJt
xero 🎮@xerocooleth
18 days ago
BREAKING, SEC is now suing Kraken, Gary mad 🤯 https://t.co/S9xpqXwHZx https://t.co/cnwfQsChxz
Bankless@BanklessHQ
18 days ago
BREAKING: The SEC has charged Kraken for operating as an unregistered securities exchange, broker, dealer, and clearing agency They are trying to kill crypto in the U.S.
xero 🎮@xerocooleth
18 days ago
BREAKING, SEC is now suing Kraken And these tokens were named in the lawsuit: ADA, ALGO, FIL, FLOW, ICP, MATIC, and NEAR 🤯 https://t.co/1pfpMVv3e9 https://t.co/BV24fdWFsH
Decrypt@decryptmedia
18 days ago
🚨 BREAKING: SEC claims Kraken commingled customer funds with its own 😬 It has also once again claimed $MATIC and $SOL are securities, among several other crypto assets. Full story below: https://t.co/aiKdSpFTtN
Ryan Selkis (d/acc)🪳@twobitidiot
18 days ago
What the SEC is trying to do with crypto enforcement actions against the likes of Kraken is demoralize an industry into leaving the country. Don’t let them. Instead, end the careers of: Sherrod Brown Jon Tester Bob Casey The Dem Senators that enable this corrupt SEC Chair.… https://t.co/r3l1TnICqY
*Walter Bloomberg@DeItaone
18 days ago
KRAKEN CHARGED BY SEC FOR OPERATING AS UNREGISTERED EXCHANGE
Bloomberg Crypto@crypto
18 days ago
The US Securities and Exchange Commission accused crypto exchange Kraken of operating an unregistered trading platform, intensifying the agency’s clampdown on the digital-asset sector https://t.co/HYlJeZote9
PiQ@PiQSuite
18 days ago
⚠️ US SEC SUES KRAKEN FOR OPERATING CRYPTO TRADING PLATFORM WITHOUT REGISTERING Full Story → https://t.co/qeFEhiNHGO https://t.co/WtCouTj9Jh
Bloomberg Markets@markets
18 days ago
The US Securities and Exchange Commission accused crypto exchange Kraken of operating an unregistered trading platform, intensifying the agency’s clampdown on the digital-asset sector https://t.co/llXZfr6SI0
RYAN SΞAN ADAMS - rsa.eth@RyanSAdams
18 days ago
The SEC coming after Kraken now. The crime? Being a crypto exchange. This is the 2nd time this year - Kraken was already extorted for $30m in penalties by the SEC earlier this year. They are trying to kill crypto in the U.S. Absolute sham of a regulator. https://t.co/w49hzx0MuQ
Bloomberg@business
18 days ago
The US Securities and Exchange Commission accused crypto exchange Kraken of operating an unregistered trading platform, intensifying the agency’s clampdown on the digital-asset sector https://t.co/KkbaY3XISV
Cointelegraph@Cointelegraph
18 days ago
The SEC has sued Kraken alleging it operates as an unregistered securities exchange, broker, dealer and clearing agency in the US and commingles customer crypto with its own. https://t.co/nFIcZPHVK6
Disclose.tv@disclosetv
18 days ago
JUST IN - SEC charges Kraken crypto exchange for operating as an unregistered securities exchange, broker, dealer, and clearing agency. https://t.co/kKaHgTMSod
CoinDesk@CoinDesk
18 days ago
The @SECGov has sued @krakenfx as an unregistered crypto platform, much like the cases against exchanges Coinbase and Binance, but it's added a complaint about comingling customer funds. @nikhileshde reports https://t.co/4qYYuzxKXw
Calvin Ayre@CalvinAyre
18 days ago
I think both Kraken and CoinBase are going to have to leave the US market to close down. this just today..Kraken sued for illegal secuity trading...no shit Sherlock catagory action: https://t.co/YXJZoqV0BZ
The Block@TheBlock__
18 days ago
SEC files new lawsuit against Kraken for allegedly operating online trading platform without registering https://t.co/VBJ9DgtxLg
Decrypt@decryptmedia
18 days ago
SEC Files Charges Against Crypto Exchange Kraken—Again ► https://t.co/ynH3tD8IYx https://t.co/ynH3tD8IYx
Blockworks@Blockworks_
18 days ago
BREAKING: SEC claims in new lawsuit that Kraken commingled customer funds, operated as an unregistered exchange https://t.co/vNaVoymZLC
nft now@nftnow
18 days ago
BREAKING: SEC charges Kraken for operating as an unregistered securities exchange, broker, dealer, and clearing agency.
unusual_whales@unusual_whales
18 days ago
US SEC sues Kraken for operating online crypto trading platform without registering with the agency
Bitcoin Magazine@BitcoinMagazine
18 days ago
JUST IN: 🇺🇸 SEC charges Kraken for operating as an unregistered securities exchange, broker, and dealer. https://t.co/19qyNYJzX2
Nate Anderson@NateHindenburg
18 days ago
Massive new 90-page SEC complaint vs. Kraken crypto exchange. SEC accuses the exchange of commingling customer assets, among many other illegal acts. https://t.co/Y6qTPUmCEQ https://t.co/y6ASkphEX5
Watcher.Guru@WatcherGuru
18 days ago
JUST IN: 🇺🇸 SEC sues Kraken crypto exchange.
Maya Zehavi@mayazi
18 days ago
The SEC charging Kraken for not registering is a new low. A company that left NY & operates openly & compliantly seems like a reach even for Gensler https://t.co/cyhTCid9Q0
GURGAVIN@gurgavin
18 days ago
JUST IN : THE SEC HAS JUST SUED CRYPTO PLATFORM KRAKEN https://t.co/juPy4atUrj
wave@0xWave
18 days ago
Time for 3 hours of takes about Kraken being sued by the SEC

SEC Sues Kraken for Operating as Unregistered Securities Exchange, Seeks Remedies

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Sources

SEC Sues Kraken for Operating as Unregistered Securities Exchange, Seeks Remedies

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Terraform Labs Challenges SEC, Kraken Lawsuit Criticized, DEBT Box Case Questioned, Legal Experts Review in England, London Firm Accused of £66m Fraud

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