Kraken’s Fight Against SEC Continues: Dismissal Denied
- A federal high court judge has dismissed Kraken’s motion to dismiss.
- The judge said the SEC’s claims against Kraken are “reasonable.”
- The SEC accused Kraken of operating an unregistered securities exchange.
In the latest development in the ongoing legal tussle between Kraken and the SEC, Willian H. Orrick, a federal high court judge, has denied the crypto exchange’s motion to quash the case altogether. This follows a previous ruling where the court rejected the SEC’s broad claim that all tokens traded on Kraken constitute securities.
Judge William H. Orrick’s decision allows the SEC’s case to proceed, stating the agency presented a reasonable argument that certain transactions on Kraken might qualify as investment contracts, thus falling under securities laws. The judge pointed to Kraken’s $43 million revenue from its trad…
The post Kraken’s Fight Against SEC Continues: Dismissal Denied appeared first on Coin Edition.
Read More
Kraken’s Fight Against SEC Continues: Dismissal Denied
- A federal high court judge has dismissed Kraken’s motion to dismiss.
- The judge said the SEC’s claims against Kraken are “reasonable.”
- The SEC accused Kraken of operating an unregistered securities exchange.
In the latest development in the ongoing legal tussle between Kraken and the SEC, Willian H. Orrick, a federal high court judge, has denied the crypto exchange’s motion to quash the case altogether. This follows a previous ruling where the court rejected the SEC’s broad claim that all tokens traded on Kraken constitute securities.
Judge William H. Orrick’s decision allows the SEC’s case to proceed, stating the agency presented a reasonable argument that certain transactions on Kraken might qualify as investment contracts, thus falling under securities laws. The judge pointed to Kraken’s $43 million revenue from its trad…
The post Kraken’s Fight Against SEC Continues: Dismissal Denied appeared first on Coin Edition.
Read More