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America Securities and Change Fee (SEC) has sued Kraken alleging it didn’t register as an change, dealer, supplier and clearing company with the regulator and claimed it commingled buyer funds.
In a Nov. 20 criticism, the SEC claimed that since 2018, Kraken had operated as a platform that provided the illegal sale of cryptocurrencies.
“With out registering with the SEC in any capability, Kraken has concurrently acted as a dealer, supplier, change, and clearing company with respect to those crypto asset securities.”
Moreover, the SEC alleged that Kraken’s enterprise practices and “poor” inside controls noticed the change commingle buyer belongings with its personal, which resulted in an allegedly “important danger of loss” for its clients.
It is a growing story, and additional info shall be added because it turns into accessible.
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