Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»BLOCKCHAIN NEWS»SEC Files Enforcement Action Against Kraken Exchange
BLOCKCHAIN NEWS

SEC Files Enforcement Action Against Kraken Exchange

By Crypto FlexsNovember 25, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
SEC Files Enforcement Action Against Kraken Exchange
Share
Facebook Twitter LinkedIn Pinterest Email

The SEC sued cryptocurrency exchange Kraken for operating without a registered cryptocurrency exchange. This move is causing a lot of confusion within the cryptocurrency space amid the recent Binance-DoJ scenario.

Kraken’s Response to the SEC’s Motion for Summary Judgment.

San Francisco-based Kraken will vigorously defend its practices. The exchange argues that regulation of cryptocurrency exchanges falls under the jurisdiction of Congress, which has yet to enact legislation on the matter. In that view, the suit was legally flawed and ill-considered. It provided assurance to our large customer base of over 10 million customers that operations and services would not be disrupted.

In this regard, litigation has centered on PAYWARD INC. and PAYWARD VENTURES INC., d/b/a kraken since 2018. The SEC alleges that Kraken conducted cryptocurrency trading without complying with appropriate securities laws, citing, among other things, poor internal controls and inadequate record keeping. , failure to address investor safety issues, and even commingling of customer and company assets.

Impact of this lawsuit on the cryptocurrency world

The case forms part of SEC Chairman Gary Gensler’s broader strategy to regulate cryptocurrency markets according to traditional rules. This is similar to similar proceedings the SEC has taken against some of the most prominent cryptocurrency exchanges, including Binance and Coinbase, as it seeks to enforce federal securities laws against these digital assets in an effort to establish priority in the industry.

Kragen denies the SEC’s charges, specifically the “commingling” of funds that covered only fee payments. The SEC is expecting fines amounting to thousands of dollars, return of profits and action to prevent repeat fraud. For example, the outcome of the Kraken lawsuit will have a major impact on the laws governing how cryptocurrency exchanges are regulated, making it the focus of an important debate about the place of legislative bodies within the expanding digital currency market.

Post views: 18

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Dreamcash starts the trading platform rollout with hyperclicade integration through waiting list.

August 6, 2025

Safe and expandable MCP server development: Main strategies and best practices

July 27, 2025

POLYMARKET will re -enter the United States after the acquisition of QCEX $ 112 million.

July 22, 2025
Add A Comment

Comments are closed.

Recent Posts

Stella (XLM) Eye 35% Rally and Ripple and SEC END 5 years legal battle

August 8, 2025

Builders Are Proving What’s Possible With CARV’s AI Stack

August 8, 2025

Caldera Announces Partnership With EigenCloud To Integrate EigenDA V2

August 7, 2025

Are Monero in danger? Five orphan blocks were found during the Cubic Mining War.

August 7, 2025

One Card To Seamlessly Bridge Web3 Assets And Real-World Spending

August 7, 2025

Coinbase’s USDC fee, encryption or other banks?

August 7, 2025

Protocol Update 001 -scale L1

August 7, 2025

As you challenge the mixed technology signal, OnDo Price Hovers challenges the August Bullish predictions.

August 7, 2025

XRP struggles for $ 3: Do Whale Offroads attract it lower?

August 7, 2025

Bybit’s Ben Zhou Charts Bold New Course To Rewrite Crypto Success At Mid-Year Keynote

August 6, 2025

Quantum advantage: Is the threat really?

August 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Stella (XLM) Eye 35% Rally and Ripple and SEC END 5 years legal battle

August 8, 2025

Builders Are Proving What’s Possible With CARV’s AI Stack

August 8, 2025

Caldera Announces Partnership With EigenCloud To Integrate EigenDA V2

August 7, 2025
Most Popular

Standard Chartered reverses its position and says the SEC is unlikely to approve a spot Ethereum ETF in May.

April 23, 2024

Ethereum Under Attack: SEC to “Protect the Financial Environment” Consensys CEO Criticizes SEC’s Cryptocurrency Crackdown

May 10, 2024

A judge has given the SEC one more week to explain ‘misrepresentation’ charges in a Utah cryptocurrency case.

December 8, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.