Posted 11/20/2023, 10:41:00 PM
SEC Charges Kraken with Operating Unregistered Crypto Exchange and Mishandling Customer Funds
- SEC accused Kraken of operating unregistered platform, improperly mixing customer funds
- Highlighted tokens like Algorand, Polygon, and Near Protocol as unregistered securities
- Claims Kraken operated as unregistered broker, clearing agency, and dealer
- Says Kraken commingled up to $33B in customer crypto and $5B in customer cash
- Seeks to ban Kraken from operating unregistered exchange and pursue fines