SEC Sues Kraken, Alleges Crypto Platform Operated Unregistered Exchange

Marco Santori, chief legal officer of Kraken Digital Asset Exchange, gestures as he speaks during the Bitcoin 2022 Conference at Miami Beach Convention Center in Miami, Florida, on April 8, 2022. Marco Bello/Getty Images

The U.S. Securities and Exchange Commission (SEC) filed charges against Kraken, one of the world’s largest cryptocurrency exchanges, on Nov. 20, accusing it of failing to register with the SEC as an exchange, clearing agency, or broker.

The lawsuit was filed against Payward Inc. and Payward Ventures Inc., together conducting business as Kraken, in the U.S. District Court, Northern District of California.