Selling unregistered securities-Crypto exchange Kraken under scrutiny

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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.

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