The post Kraken Under the SEC Lawsuit Fire! appeared first on Coinpedia Fintech News
Kraken, one of the major cryptocurrency exchanges, was sued by the SEC last November in the Northern District of California. The ongoing legal battle between cryptocurrency exchange Kraken and the SEC has taken a significant turn. On August 23, U.S. District Court Judge William H. Orrick of the Northern District of California ruled that the SEC’s lawsuit against Kraken will proceed to trial, rejecting its motion to dismiss the case.
History of Kraken Lawsuit
The SEC sued one of the biggest crypto exchanges, Kraken in November 2023. It argued that the crypto exchange has violated federal securities law as it did not register with the agency as a broken or exchange. In its complaint, the SEC requested that strict penalties should be charged against Kraken and it should be prohibited from further securities violations. This lawsuit is a part of the SEC’s major crackdown on crypto exchange
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