SEC vs. Kraken
There SECjust like he did in the past with Binance AND Coinbase, sued the Kraken exchangeaccording to her, guilty of violating several federal funds laws, including the commingling of company and user funds.
The allegations follow a previous conflict between CEX and the agency, which was then resolved last February with the payment of one $30 million fine andtermination of the staking service In the USA. However, it seems that the problems are not over and the SEC is on the offensive again.
In the complaint, more precisely, the SEC pointed out once again that the problem is the same cryptocurrencies that are offered to customers, e.g. Cardano (ADA), Algorand (ALGO), Cosmos (TO THAT) I Saltworks (SALT), everything is considered a “security” (unregistered) and therefore in theory under the auspices of laws governing financial assets.
Version by Jesse Powell
For the co-founder and former CEO of Kraken Jesse PowellSEC May Be Implementing Questionable Policy”retarder”, or in other words an unconscious action that hinders progress.
According to him, the agency would even “return to attacking America”. “I thought we solved all their concerns for $30 million in February, but they’re back for a second round,” we read in one of his tweets. “The message is clear: $30 million buys you about 10 months before the SEC comes back for new extortion“.
There would therefore be two possible paths for the Kraken to date. On the one hand, dealing with difficult legal battlewhich will cost millions of dollars and precious time, and on the other hand escape from the USA to try to save the business from the clutches of the American authorities.
Furthermore, they echo Powell’s own words from last February, when he already accused the SEC of providing “zero guidance, zero cooperation and zero interest in helping to develop a compliant product.”