The US Securities and Exchange Commission (SEC) is investigating Kraken, one of the largest cryptocurrency exchanges, for possible violations of securities laws.
Kraken under investigation
The regulator’s investigation into Kraken’s possible sale of unregistered securities has advanced significantly, according to Bloomberg.
The resolution of the investigation may be imminent, as an agreement could be reached in the near future. The company has yet to make any public statement on the situation.
In the cryptocurrency market, Kraken occupies an important position, ranking fourth in daily transaction volume as recorded by CoinGecko. This exchange offers its cryptocurrency trading along with additional services like a recently launched NFT marketplace.
Regulation and legal scrutiny are this year’s themes for cryptocurrencies
As the SEC continues to intensify its enforcement actions against cryptocurrency exchanges in recent months, this investigation is another example of such efforts. Last month, the regulator took action against Genesis and Gemini for allegedly providing unregistered securities.
According to Kevin O’Leary, Binance may be next. The renowned venture capitalist and star of the popular TV show Shark Tank has expressed his concerns in an interview with Scott Melker. O’Leary stated that Binance shareholders should be concerned about the increasing global attention being paid to cryptocurrency exchanges and that the Binance cryptocurrency exchange could soon face government scrutiny.