SEC Accuses Crypto’s Kraken of Operating Unregistered Exchange

[] 1 week ago by Muyao Shen

The US Securities and Exchange Commission accused crypto exchange Kraken of a wide range of securities law violations, less than a year after unveiling a $30 million settlement with the firm over other alleged conduct.

In its latest salvo against the crypto sector, the regulator claimed Monday that Kraken commingled customer assets with its own and at times paid expenses from bank accounts that held customer cash. The SEC also alleged that the firm was operating as an exchange, broker, dealer and a clearing agency — all without the proper registration.