“Without list with the SEC in any capacity, Kraken has simultaneously acted as a broker, dealer, exchange, and clearing agency with respect to these crypto asset sanctuaries. In doing so, Kraken has created risk for investors and taken in billions of dollars in fees and trading revenue from investors without adhering to or flatten recognizing the requirements of the U.S. securities laws that are designed to protect investors,” the suit alleged.
Check Also
XRP Price Skyrockets Past $1 as SEC Faces Legal Troubles And Favorable Regulatory Shift Looms
In December 2020, the SEC filed a lawsuit against Riffle Labs, accusing the company of …