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Crypto Compliance or Overreach? SEC's Kraken Crusade Sparks Industry Debate
In a significant development, the Securities and Exchange Commission (SEC) has charged Payward Inc. and Payward Ventures Inc., collectively known as Kraken, for operating its crypto trading platform as an unregistered securities exchange, broker, dealer, and clearing agency. The SEC alleges that Kraken has unlawfully facilitated the buying and selling of crypto asset securities, amassing hundreds of millions of dollars in violation of securities laws. According to the SEC's complaint, Kraken's unconventional blend of functions—acting as an exchange, broker, dealer, and clearing agency—has been executed without ... (full story)