SEC v. Kraken (Enforcement Action) event
Overview
The SEC announced on February 9, 2023 that it had settled charges with Payward Ventures, Inc. and Payward Trading, Ltd., the firms behind the Kraken exchange, over their failure to register a crypto asset staking-as-a-service program. The regulator claimed the companies pooled client assets, promoted annual returns up to 21%, controlled more than $2.7 billion in U.S. investor crypto, and generated roughly $147 million in related income. Under the settlement, Kraken will pay $30 million covering disgorgement, prejudgment interest and civil penalties, and must halt staking services for U.S. customers, while neither admitting nor denying the allegations. This case marked an early SEC enforcement move focused on staking products.
Within The Counterparty graph, SEC v. Kraken (Enforcement Action) connects to 1 tracked entity, most strongly to Kraken.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 1 of 1 total).
| Relation | Connected entity | Confidence |
|---|---|---|
submitted_to | Kraken | 95% |
Frequently asked questions
What is SEC v. Kraken (Enforcement Action)?
SEC v. Kraken (Enforcement Action) is an event tracked in The Counterparty knowledge graph. It is connected to 1 other tracked entity, most strongly to Kraken.
What type of entity is SEC v. Kraken (Enforcement Action)?
SEC v. Kraken (Enforcement Action) is classified as an event (event) in The Counterparty knowledge graph.
What is SEC v. Kraken (Enforcement Action) connected to?
In The Counterparty knowledge graph, SEC v. Kraken (Enforcement Action) is linked to 1 other tracked entity, most strongly to Kraken.
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.