The US Securities and Exchange Commission (SEC) has taken action against another cryptocurrency exchange.
According to the SEC’s allegations, Kraken company assets with assets belonging to customers mixing together, leading to a “significant risk”.
“Kraken has at times held more than $5 billion in customer cash, and the company has been mixing some of its customer money with some of its own.” In the case called “Even Kraken, sometimes operating costs directly from bank accounts where customers’ money is kept “He paid.” emphasis was made.
The SEC alleges that Kraken operated unregistered as a broker, exchange, and clearing house at the same time.
According to the SEC’s allegations, Kraken has several unregistered securities listed on the exchange. The regulator cited Algorand (ALGO), Polygon (MATIC) and NEAR as examples.
The SEC demands that Kraken be banned from operating unregistered and that the company return ill-gotten revenues.
The regulatory body also filed a lawsuit against Binance and Coinbase exchanges earlier this year.
In the statement made by Kraken, “We do not agree with the SEC’s allegations, we do not give up the view that we do not list securities on the exchange, and we plan to strongly defend this position.” It was said.