Crypto exchange Kraken is embroiled in an SEC probe over whether it sold unregistered securities, report says
Crypto exchange Kraken is under investigation by the Securities and Exchange Commission over whether it broke rules by selling unregistered securities to US customers, according to aThe US markets regulator's probe is at a late stage and a settlement with Kraken could arrive in the coming days, the Wednesday report said, citing a person familiar with the matter.
The crypto industry is facing intensified scrutiny after the spectacular demise in November of major exchange FTX, whose founder and former CEO Sam Bankman-Fried has been charged with multiple criminal fraud charges. by the SEC in January for the unregistered offer and sale of securities to customers through an interest-bearing product. The regulator said the firms raised billions of dollars worth of crypto assets through the unregistered Gemini Earn program.
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