Kraken has demanded a jury trial in SEC lawsuit over trading in unregistered securities
The company completely rejects the charges made by the regulator
13.09.2024 - 13:05
113
2 min
0
What’s new? US-based centralized crypto exchange (CEX) Kraken has requested a jury trial in a case brought against it by the US Securities and Exchange Commission (SEC). Last November, the SEC accused Kraken of operating without registration, commingling customer funds with its own, and offering unregistered securities in the form of tokens. Earlier, the regulator filed similar lawsuits against crypto exchanges Binance and Coinbase.
What else is known? After filing the lawsuit, Kraken denied the charges and refused to restrict products and services for customers in the United States, stating its readiness to defend its interests in court. Meanwhile, last February, Kraken was forced to pay a $30 million fine and stop providing staking services in the country due to SEC claims.
In a new appeal to the court, Kraken also denied the charges and said that it did not register with the SEC because it was never required to do so. The company emphasized that it is not an exchange, broker-dealer, or clearing agency as defined under the Exchange Act.
The defendants also argue that the SEC has no authority to regulate Kraken. Digital assets cannot themselves be investment contracts because they do not carry any of the rights and obligations associated with stocks, bonds, or any other financial assets that are subject to SEC regulation.
Kraken has challenged the SEC’s arguments in a securities law violation proceeding
According to the exchange’s representatives, the officials incorrectly formulate arguments
In February, Kraken launched Kraken Institutional, a spot and derivatives trading platform, and in April it bought US-licensed crypto broker TradeStation Crypto.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$97 770
BTC
-1.15%
-
Ethereum
$3 398.52
ETH
+2.15%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.47
XRP
-0.38%
-
Dogecoin
$0.430228
DOGE
+4.2%
-
Cardano
$1.07
ADA
+4.28%
-
Stellar XLM
$0.516868
XLM
+50.73%
-
Polkadot
$8.53
DOT
+28.4%
-
Bitcoin Cash
$509.85
BCH
+4.01%
-
Litecoin
$99.44
LTC
+7.85%