Crypto exchange Kraken under scrutiny for sale of unregistered securities

According to the article, the regulator's investigation is well along and might soon lead to a settlement with the San Francisco-based platform.

Kraken chose not to respond to the report. A request for response from the SEC was not immediately complied with.

Companies that assist in transaction facilitation in the cryptocurrency market should register with the agency, according to SEC Chair Gary Gensler, just like other market intermediaries.

The exchange has no intentions to register with the SEC as a market facilitator or to delist cryptocurrency tokens that the commission has classified as securities, according to Kraken's incoming chief executive officer, who spoke to Reuters in September.

In order to resolve legal responsibility for alleged breaches of the sanctions against Iran, Kraken agreed in November to pay the Office of Foreign Assets Control of the U.S. Treasury Department $362,000 and spend an additional $100,000 in specific sanctions compliance mechanisms.