Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ADOPTION NEWS»Kraken seeks to dismiss SEC lawsuit, claims it is ‘retaliation’ for political speech
ADOPTION NEWS

Kraken seeks to dismiss SEC lawsuit, claims it is ‘retaliation’ for political speech

By Crypto FlexsFebruary 25, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Kraken seeks to dismiss SEC lawsuit, claims it is ‘retaliation’ for political speech
Share
Facebook Twitter LinkedIn Pinterest Email

Kraken filed a motion Thursday to dissolve the Securities and Exchange Commission. November Litigation It accused the cryptocurrency exchange of operating without registration, failing to prevent known conflicts of interest, and commingling customer funds, among other charges.

In addition to submitting documents work outkraken said blog post On Thursday, the SEC said the SEC’s argument was flawed because it claimed the cryptocurrency exchange was operating an unlicensed platform for “investment contracts” without identifying the “agreements” between Kraken users and token issuers.

“None of the assets sued by the SEC are investment contracts under the law,” the exchange said. “For 80 years, the U.S. Supreme Court and the Ninth Circuit (where this case was brought) have always required the SEC to identify the contracts when determining the existence of an investment contract.”

Kraken also argued that cryptocurrency tokens do not qualify for the Howey test, which U.S. authorities often use to define securities sales as “investment contracts.”

“The SEC’s theory is that there can be investment contracts with no contracts, no post-sale obligations, no interaction between the issuer and the purchaser. No joint ventures, no joint ventures, no profits in the business,” the blog post said.

The company added that the SEC’s lawsuit did not accuse Kraken of fraud or providing services to customers and questioned the basis of its legal claims. Kraken said allowing the SEC to continue with this argument would set a “dangerous precedent for institutional overreach.”

Politically driven?

In the X thread, Kraken CEO Dave Ripley said: assert Noting that the SEC’s accusations were politically motivated, the agency said it would sue Kraken shortly after the exchange testified before the House Financial Services Committee and the House Agriculture Committee last May about the SEC’s “excessive approach to cryptocurrencies.” I pointed out how it was revealed.

“America’s cryptocurrency innovators need not fear retaliation for political speech,” Ripley wrote in her X post. “U.S. cryptocurrency exchanges should not operate under an onslaught of regulatory enforcement actions, and jurisdictions around the world continue to advance constructive regulatory rulemaking.”

The SEC’s November lawsuit against Kraken came less than a year after Kraken filed the lawsuit. $30 million fine In return for cryptocurrency staking business.

Kraken and the SEC did not immediately respond to The Block’s request for further comment.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

Gala Games improves leader board rewards and introduces preference systems.

June 20, 2025

Ether Leeum Whale starts a $ 11 million leverage betting in the 30% increase in ETH prices.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Polkadot (DOT) traders can use this strategy to navigate downtrends in DOT.

November 6, 2024

SEC decision to encryption rules: Request for customized regulations

February 7, 2025

Hong Kong mortgage applications were DIP, HKMA report in April 2025

May 31, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.