Kraken Trading Volume Climbs Despite SEC Troubles

  • Kraken’s 24h trading volume is up around 14%, despite the dispute with the US SEC.
  • CoinMarketCap and CoinGecko data revealed that Kraken’s 24h trading volume stands at $757 million.
  • The SEC recently investigated Kraken for possible violation of rules when offering staking services to US consumers.

Kraken’s Trading Volume Climbs Despite Dispute With U.S. Securities and Exchange Commission (SEC)

Kraken, a large crypto platform, has seen its 24-hour trading volume increase by almost 15%, in spite of issues with the U.S. Securities and Exchange Commission (SEC). Data from CoinMarketCap and CoinGecko showed that Kraken’s 24-hour trading volume was around $757 million, representing an increase of 14%. According to various factors such as average liquidity, volume, and web traffic, Kraken scored 7.4 out of 10 on CMC which is owned by Binance; making it the third most trusted crypto platform after Binance (9.9) and Coinbase (7.8).

SEC Investigation into Possible Violation of Rules

The surge in trading activity contrasts with recent problems prompted by the SEC investigation into possible violation of rules when offering securities as staking services to US customers. Chairman of the SEC Gary Gensler had previously urged all cryptocurrency entities to register with their agency’s authority. The agency’s actions against staking services forced Kraken to terminate such offerings; paying $30 million in disgorgement, prejudgment interest, and civil penalties in the process.

No Wave Of Withdrawal Requests

Although Kraken has faced these issues, there have been no reports of a wave of withdrawal requests from customers or users affected by this dispute; indicating that users remain largely unfazed by this affair for now.

Cryptocurrency Regulation
This incident serves as a reminder that cryptocurrency regulation is taken seriously by authorities worldwide; who are keenly monitoring transactions performed on platforms like Kraken for any signs of misconduct or illegal activity taking place within their jurisdiction’s borders. It also highlights how important it is for exchanges like Kraken to adhere strictly to rules imposed upon them by regulatory bodies like the SEC if they wish to continue operating without interference or disruption from government agencies seeking compliance with existing laws outside their own domain.

Overall, despite facing some difficulties related to its dispute with the SEC, Kraken has managed to maintain its performance levels without any significant impact on customer loyalty or user engagement thus far; proving that even when faced with legal challenges – businesses can still thrive if they take appropriate action quickly enough upon receiving notification from relevant agencies about potential violations taking place on their platforms before any irreparable damage is done