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U.S. federal court rejects Kraken’s request to dismiss SEC lawsuit

BlockBeats news, August 24, according to Cointelegraph, the U.S. Federal Court for the Northern District of California rejected the cryptocurrency trading platform Kraken's request to dismiss the SEC lawsuit in its ruling on August 23.

Previously, the SEC accused Kraken of operating an unregistered securities trading platform. The court believed that the SEC's accusation that certain cryptocurrency transactions on the Kraken platform constituted investment contracts was reasonable. The final ruling on the case has not yet been made. However, Kraken's legal director Marco Santori said that it would prove that these transactions did not meet the requirements of the Howey test.

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U.S. federal court rejects Kraken’s request to dismiss SEC lawsuit

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