There has been a new development in the crypto-currency ecosystem where regulations are increasing worldwide. The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against popular cryptocurrency exchange Kraken Exchange.

According to initial information, the SEC cites Kraken providing crypto trading platform services without any registration as the reason for the lawsuit.

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No official announcement has been made by Kraken at the time of writing this article.

The lawsuit is at the heart of debates around regulation and legal legislation in the crypto market. The SEC is following a stricter line on regulations regarding cryptocurrencies, especially recently, and this situation affects important crypto exchanges like Kraken.

Previously, the SEC, who sued the Binance exchange, is demanding more than 4 billion dollars from Binance to end the lawsuit.

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The post Breaking News | SEC Files Lawsuit Against Kraken Exchange! appeared first on Coin Engineer.