The U.S. SEC accuses Kraken of violating federal securities laws by mixing up to $3.3 billion of customer and company funds

ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) has charged the cryptocurrency exchange Kraken with violating federal securities laws by mixing up to $3.3 billion of customer and company funds while operating as an unregistered broker, clearing agency, and dealer, stating that "Kraken sometimes holds more than $500 million in customer cash, and it also mixes some customer cash with its own cash; in fact, Kraken sometimes directly pays operating expenses from bank accounts holding customer cash."