Kraken Claims Legal Wins Over US SEC in the Face of Regulatory Challenges
In a wave of crypto news, Kraken has claimed notable legal progress against the US Securities and Exchange Commission (SEC) despite the court’s decision not to dismiss allegations that Kraken operated an unregistered securities exchange.
On August 23, Judge William Orrick ruled that the SEC presented a plausible case suggesting that some of Kraken’s crypto transactions could qualify as investment contracts and therefore be subject to securities laws.
Kraken's Victories Against the US SEC
In response to the ruling, Kraken's Chief Legal Officer, Marco Santori, highlighted that the court did not classify any tokens traded on Kraken as securities. He noted that the court found the SEC's concept of a regulatory approach lacking in clarity.
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