SEC charges Kraken for operating as an unregistered securities exchange

Uhh, what? I've always considered Kraken to be the most rules-abiding exchange - more so than Coinbase. They're quite shrewd in what they're willing to list.

I wonder if SEC is charging Coinbase soon, too?

Re: SEC charges Kraken for operating as an unregistered securities exchange

#7

Post by sillysaurusx » Mon, Nov 20, 2023, 11:23 PM UTC

Oh, great. Right when we’re on the verge of receiving our Mt Gox payouts.

Ah well, I knew it was too good to be true. The way not to be disappointed is to not get your hopes up involving money.

Re: SEC charges Kraken for operating as an unregistered securities exchange

#8

Post by kklisura » Mon, Nov 20, 2023, 11:24 PM UTC

SeanAnderson wrote: post #6

Uhh, what? I've always considered Kraken to be the most rules-abiding exchange - more so than Coinbase. They're quite shrewd in what they're willing to list. I wonder if SEC is charging Coinbase soon, too?

> I wonder if SEC is charging Coinbase soon, too?

Already happened. [1][2]

[1] https://news.ycombinator.com/item?id=36211820

[2] https://www.sec.gov/news/press-release/2023-102

Re: SEC charges Kraken for operating as an unregistered securities exchange

#9

Post by SeanAnderson » Mon, Nov 20, 2023, 11:25 PM UTC

kklisura wrote: post #8

SeanAnderson wrote: post #6

Uhh, what? I've always considered Kraken to be the most rules-abiding exchange - more so than Coinbase. They're quite shrewd in what they're willing to list. I wonder if SEC is charging Coinbase soon, too?

> I wonder if SEC is charging Coinbase soon, too? Already happened. [1][2] [1] https://news.ycombinator.com/item?id=36211820 [2] https://www.sec.gov/news/press-release/2023-102

Ah, I see. Odd that they were allowed to be publicly traded for years while also not operating legally

Re: SEC charges Kraken for operating as an unregistered securities exchange

#10

Post by bozhark » Mon, Nov 20, 2023, 11:25 PM UTC

ofslidingfeet wrote: post #5

Scott_Sanderson wrote: post #3

Kraken has been trading crypto coins since 2011. Why did it take the SEC so long to bring this suit?

The regime changed, so now they're punishing everyone who played ball with disruptive elements of the previous regime's economic plan.

Not really.

Kraken has… expanded enough to reach optics.

And the FTX case is done