Kraken

Kraken aims to thwart an SEC lawsuit, arguing it would radically alter U.S. financial regulations by misclassifying cryptocurrencies as securities. Judge Orrick to decide on June 12.

Hong Kong's Securities and Futures Commission has stopped accepting crypto exchange license applications, with non-compliant exchanges facing closure by 31 May 2024. Licensed operators include OSL Digital Securities and HashKey Exchange, while notable applicants like Bybit and OKX seek approval, though platforms like Coinbase and Kraken are absent.

Kraken is challenging the SEC's case, arguing that none of the assets involved qualify as 'investment contracts'. This legal battle highlights the need for clearer regulatory frameworks in the cryptocurrency industry.

Kraken contests an SEC lawsuit alleging it operated as an unregistered exchange, arguing cryptocurrencies are commodities, not securities, in a pivotal case for crypto regulation.

Cryptocurrency exchanges have seen record volumes, with Binance leading the market with a 49% share. ByBit, Huobi, and OKX have also experienced significant growth, driven by higher cryptocurrency prices and the approval of spot Bitcoin ETFs.

India has heightened its crackdown on offshore crypto exchanges, leading Apple to remove apps of platforms like Binance and Bitfinex from its App Store within the country. Regulatory measures, including compliance notices and a 1% levy called Tax Deducted at Source (TDS), reflect India's commitment to enforcing crypto regulations, impacting both local and offshore exchanges.

Over $1 billion in Bitcoin withdrawn from Kraken, speculated as a response to the upcoming SEC decision and market uncertainties.

India’s Financial Intelligence Unit has taken steps to block the URLs of nine cryptocurrency exchanges. The move comes as the FIU claims these exchanges are "operating illegally" and not complying with the Prevention of Money Laundering Act.

Bonk, a new Solana-backed token, gains momentum with listings on Kraken, WazirX, and Binance, despite recent price fluctuations.

The SEC has filed a complaint against Kraken, alleging the cryptocurrency platform operated without necessary registrations, combining multiple roles without proper approval. The accusations include providing a marketplace for securities transactions, acting as an unregistered exchange, and commingling customer funds with its own. Kraken's CEO disputes the claims, sparking a broader debate on the SEC's role in regulating cryptocurrency exchanges and the industry's future.