Cryptocurrency exchange Kraken is under investigation by the U.S. Securities and Exchange Commission for the sale of unregistered securities, according to a Bloomberg report.
The regulator’s inquiry is at an advanced stage and could result in a settlement with the San Francisco-based platform in the coming days, the report added.
Kraken declined to comment on the report. The SEC did not immediately respond to a request for comment.
SEC Chair Gary Gensler has previously said that companies that help facilitate transactions in the crypto market should register with the agency just like other market intermediaries.