In November 2023, the Securities and Exchange Commission (SEC) filed a lawsuit against Kraken for allegedly operating a platform as an unregistered securities exchange, broker, dealer, and clearing agency. The SEC claims that Kraken has unlawfully generated hundreds of millions of dollars since at least September 2018 by facilitating the trading of crypto asset securities.
Kraken tried to have the case dismissed, but their motion was denied in August. The legal battle between Kraken and the SEC continues as the regulatory agency seeks to hold Kraken accountable for its alleged violations of securities laws.
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