Lawyers for cryptocurrency trading platform Kraken have argued in the latest court filing that the Securities Exchange Commission's (SEC) arguments are baseless and that both sides are preparing for a hearing in June.
Kraken's lawyers said in court filings on Thursday that the agency failed to identify any investment contracts traded, brokered or settled on Kraken. Kraken also contends that the agency failed to meet elements of the Howey test, a standard used in the 1946 Securities Supervision Commission v. WJ Howey Co. case before the United States Supreme Court to determine whether a particular transaction constitutes an offering of securities.
Kraken renews efforts to dismiss SEC lawsuit ahead of June hearing
2024-05-10 15:20:06
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