US SEC sues Kraken for operating crypto trading platform without registering | Reuters

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Illustration shows Kraken cryptocurrency exchange logo

Kraken cryptocurrency exchange logo is seen in this illustration taken July 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing Rights

Nov 20 (Reuters) - The U.S. Securities and Exchange Commission sued Kraken on Monday, accusing it of illegally operating a trading platform for cryptocurrency assets without first registering with the regulator.

In a complaint against Payward Inc and Payward Ventures Inc, which together operate as Kraken, the SEC said Kraken has taken in billions of dollars in fees and trading revenue without recognizing securities laws designed to protect investors.

Reporting by Jonathan Stempel in New York Editing by Chris Reese

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