Crypto Exchange Kraken in Hot Water with SEC Over Alleged Securities Violation – Here's What to Know

Crypto Exchange Kraken in Hot Water with SEC Over Alleged Securities Violation – Here's What to Know

"The US-based crypto exchange Kraken is in hot water with regulators over an alleged violation of securities rules related to the selling of “unregistered securities.”

The Securities and Exchange Commission’s (SEC) probe into whether Kraken did offer unregistered securities to US consumers is now at an “advanced stage,” Bloomberg reported on Wednesday, adding that the probe could lead to a settlement in “coming days.”

The report was based on information from an unnamed source “with knowledge of the matter.”

Kraken or its CEO Jesse Powell has so far not commented on the report."