US SEC sues Kraken for operating crypto trading platform without registering

(Reuters) – The U.S. Securities and Exchange Commission sued Kraken on Monday, accusing it of illegally operating a trading platform for cryptocurrency assets without first registering with the regulator.

In a complaint against Payward Inc and Payward Ventures Inc, which together operate as Kraken, the SEC said Kraken has taken in billions of dollars in fees and trading revenue without recognizing securities laws designed to protect investors.

(Reporting by Jonathan Stempel in New York; Editing by Chris Reese)