SEC Hits Kraken With $30 Million Fine
The SEC hit San Francisco-based cryptocurrency exchange Kraken with a $30 million fine for violating securities laws.
In a Thursday announcement, the regulatory body announced the firm had failed to register the offer and sale of their crypto asset staking-as-a-service program.
Kraken—which consists of Payward Ventures, Inc. and Payward Trading Ltd.—agreed to halt its staking service for U.S. clients but did not admit or deny the allegations in the SEC’s complaint.
(With inputs from Shikha Singh)
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