SEC Sues Kraken Crypto Exchange, Escalating Calls for Congressional Action on Crypto Regulation
• SEC sued Kraken crypto exchange for illegally operating as unregistered securities exchange • Move sparked renewed calls for Congress to provide regulatory clarity on crypto • Kraken denies dealing in securities, says SEC demanding compliance with regime that doesn’t exist • SEC previously filed similar lawsuits against Binance and Coinbase crypto exchanges • Crypto industry ramping up lobbying spending, now totals $20+ million in 2023