The United States Securities and Exchange Commission (SEC) announced Monday that it has filed charges against cryptocurrency exchange Kraken, just months after settling previous charges against the firm. In a press release, the SEC alleged that Kraken’s parent companies were “operating Kraken’s crypto trading platform as an unregistered securities exchange, broker, dealer, and clearing agency.” The agency filed similar charges against rival exchange Coinbase earlier this year. In the complaint, the SEC alleged that the following cryptocurrencies are securities: ADA, ALGO, ATOM, FIL, FLOW, ICP, MANA, MATIC, NEAR, OMG, and SOL. This news means that the SEC is taking a more active role in regulating the crypto industry, and is holding exchanges responsible for their activities. This could be seen as a good or bad thing depending on your perspective, but it is clear that the SEC is taking steps to ensure that the crypto industry is operating in a legal and secure manner.
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You can read more about this topic here: Decrypt: SEC Files Charges Against Crypto Exchange Kraken—Again
