Kraken exchange, which terminated its staking services in line with the agreement it made with the SEC at the beginning of last year, but could not prevent a lawsuit from being filed by the SEC again in November, came out harshly against the institution this time.

In the statement made by the stock exchange, it was stated that the lawsuit filed by the SEC against them was unfair and that they requested the dismissal of the case by making an official request to the court.

“Power should be given to Congress”

The stock exchange spokesperson, who also sent a written statement to Fox Business from the US media, used the following statements:

“Today, we asked the court to dismiss the SEC’s lawsuit against Kraken. The laws are clear. None of the assets specified by the SEC are investment contracts, nor is the Kraken exchange a securities platform. The SEC wants to represent some simple assets and commodities as securities and expand its sphere of influence. “At a time when Congress is currently debating the distribution of authority to federal agencies, this move by the SEC should not be allowed and power should be returned to Congress, where it belongs.”

On November 20, 2023, the SEC accused the Kraken exchange of selling securities unregistered and sued it.

The SEC lost the Grayscale case this year and the cryptocurrency world won a historic victory. The institution also suffered a significant loss in the Ripple case. The court ruled that sales made to small investors through stock exchanges cannot be considered as investment contract sales.

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