Today, the SEC filed a complaint alleging that Kraken operates as an unregistered securities exchange, broker, and clearing house. We disagree, and intend to vigorously defend our position in court.
Today’s news has no impact on the products we offer and we will continue to provide services to our clients without interruption. We remain fully committed to our U.S. and global clients and partners.
The complaint against Kraken alleges no fraud, no market manipulation, no customer losses due to hacking or compromised security, and no breaches of fiduciary duty. It includes big dollar amounts but does not allege a single one of those dollars is missing or misused – no ponzi scheme, no failure to maintain adequate reserves, and no failure to preserve the identity of client funds 1:1. Indeed, none of these things would be true.
Instead, the complaint makes a technical argumen ..
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