The Securities and Exchange Commission (SEC) sued Kraken, a cryptocurrency exchange, in November 2023 for operating as an unregistered securities exchange, broker, dealer, and clearing agency. The SEC believes that Kraken has been unlawfully making hundreds of millions of dollars since at least September 2018 by facilitating the buying and selling of crypto asset securities.
Kraken had filed for the case to be dismissed, but the motion was rejected in August.
