Kraken, one of the world’s largest cryptocurrency exchanges, continues its fight against the US Securities and Exchange Commission (SEC).
SEC, operating unregistered And mixed customer funds filed a lawsuit against Kraken on the grounds that
Kraken applied to the court to dismiss the case filed by the SEC. According to Kraken’s claims, the SEC said that the exchange “investment contracts” for unregistered Even though it claims to provide services, this “contracts” can’t define what it is:
“None of the assets included in the SEC’s complaint are legally investment contract It is not counted as. The U.S. Supreme Court has ruled for eight to ten years that if the SEC detects an investment contract, what that contract is? to be able to define stipulated.”
Kraken team, “The SEC’s theory is that there can be an investment contract without a contract, post-sale obligation, or interaction between the issuer and the buyer.” said.
According to the statement made by Kraken, the SEC’s case was not dropped, A negative precedent for the institution and the sector will create.