New Development in the Cryptocurrency Case Filed by the SEC! “This Time the Court Found the SEC Right!”

Donald TrumpHe resigned from his duty on January 20, when he took office. Former SEC chairman Gary Gensler He filed lawsuits against many cryptocurrency platforms during his term of office.

At this point, SEC’s leading crypto exchange KrakenThere has been a new development in the lawsuit filed against , alleging the sale of unregistered securities.

The court hearing the case rejected one of Kraken’s defense arguments.

In its defense, Kraken claimed that the SEC did not have the legal authority to regulate the crypto market through litigation and that the SEC could not act unless authorized by Congress.

However, court judge William Orrick stated that the SEC’s authority in the case could not be questioned and said: KrakenHe rejected this objection of .

This objection, also known as the “important questions doctrine,” was one of the biggest criticisms leveled against the SEC by many exchanges in cases. Because the SEC filed a lawsuit Binance ve Coinbase Big names such as the SEC also claimed that it exceeded its authority.

The SEC filed a lawsuit against Kraken in November 2023, claiming that the exchange was operating as a securities exchange without registration. Additionally, Payward Inc., which operates Kraken. and Payward Ventures have been violating securities laws since 2018.

Additionally, the SEC had filed a staking lawsuit against Kraken before the securities violation allegations. However, this case ended in a settlement with Kraken paying $30 million.

*This is not investment advice.