Kraken Denies SEC Charges, Claims Digital Assets Are Not Securities
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September 16, 2024
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Kraken Denies SEC Charges, Claims Assets Not Securities
PANews, September 17: Cryptocurrency exchange Kraken has denied accusations from the U.S. Securities and Exchange Commission (SEC) that it violated federal securities laws. Kraken claims the assets cited by the regulator do not meet the legal definition of securities.
In a legal filing, Kraken stated it did not violate "Sections 5, 15(a), and 17A of the Securities Exchange Act of 1934," as the cited assets "are not securities or investment contracts."
The assets mentioned in the SEC's charges include:
- SOL (Solana)
- ADA (Cardano)
- ALGO (Algorand)
- Cosmos
- FIL (Filecoin)
- MATIC (Polygon)
- Five other undisclosed crypto assets
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