“Are you trading leftist securities?” – US authorities are digging under the Kraken exchange

The US Securities and Exchange Commission (SEC) is investigating popular cryptocurrency exchange Kraken, reporters report. Bloomberg.

The publication writes that the American regulator checks if the platform is trading in unregistered securities. Moreover, at the moment the investigation is at the stage when everything is already clear and the exchange will soon have the opportunity to resolve problems with the regulator.

Such investigations should encourage other cryptocurrency exchanges on their own, on their own initiative, to turn to the SEC for a blessing, as the agency has always advised. Commission Chairman Gary Gensler has repeatedly urged crypto startups to register with a supervisory authority to avoid problems in the future.

The SEC has been hard at work throughout 2022, according to consulting firm Cornerstone Research. 30 cases were filed against crypto companies in a year (this is a record), in just 2022, the regulator used its power 127 times.

The SEC has filed a total of 24 lawsuits in US federal courts and six administrative proceedings. The number of litigations has doubled compared to the previous year. Most often, representatives of the cryptocurrency industry were accused of fraud (70% of cases) and an unregistered offer of securities (73%). In half of the cases, the regulator blamed crypto companies on both counts.

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