Kraken Challenges SEC Allegations, Denies Violating Securities Laws

COINOTAG News reported on September 17 that cryptocurrency exchange Kraken has addressed the U.S. Securities and Exchange Commission’s allegations of violating federal securities laws. In a filing dated September 12, Kraken refuted the SEC’s claims, asserting that the assets in question do not satisfy the legal definition of securities. The exchange emphasized in its filing that it is in compliance with “Sections 5, 15(a), and 17A of the Securities Exchange Act of 1934,” arguing that the mentioned assets are neither securities nor investment contracts. This legal stance marks a significant moment in the ongoing dialogue between cryptocurrency platforms and regulatory bodies.