Published by
Benzinga
Benzinga
Kraken is embroiled in a legal battle with the Securities and Exchange Commission (SEC) over allegations of illegal activities and inappropriate management of customer funds. What Happened: The SEC raised accusations against the San Francisco-based firm on Monday, alleging violation of federal securities laws. The SEC asserts that Kraken operated unlawfully as a broker, clearing agency, and dealer, while improperly mixing customer and corporate funds. Kraken’s independent auditor is quoted by the agency, stating that the company posed a “significant risk” by integrating up to $33 billion of cu…