Kraken Denies US SEC Charges, Claims Digital Assets Are Not Securities
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September 17, 2024
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Kraken Responds to SEC Charges, Denies Securities Law Violations
According to Cointelegraph, cryptocurrency exchange Kraken has responded to charges by the US Securities and Exchange Commission (SEC) alleging violations of federal securities laws.
In legal documents filed on September 12, the crypto exchange denied the SEC's accusations, claiming that the assets cited by the regulator do not meet the legal definition of securities. Kraken stated in the filing that it did not violate "Sections 5, 15(a), and 17A of the Securities Exchange Act of 1934" because the cited assets "are not securities or investment contracts."
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