<ul><li>Judge Orrick&#39;s inclination signals a potential setback for Kraken in its SEC lawsuit, echoing challenges faced by Ripple.</li><li>SEC argues Kraken&#39;s business model treats digital assets as securities, prompting regulatory oversight concerns.</li><li>Kraken&#39;s defense aims to differentiate its operations from similar cases like Terraform Labs and Telegram to avoid securities classification.</li></ul>The legal battle between <a href="https://cryptotale.org/secs-landmark-case-against-kraken-and-the-future-of-cryptocurrency-compliance/" rel="noopener noreferrer nofollow">Kraken </a>and the U.S. Securities and Exchange Commission (SEC) reached a critical juncture following a recent court hearing in San Francisco. <a href="https://x.com/MetaLawMan/status/1803861341373108402" rel="noopener noreferrer nofollow">Judge William Orrick</a>, presiding over the case, indicated a leaning towards denying Kraken&#39;s motion to dismiss the SEC&#39;s lawsuit. This development suggests a potentially protracted legal ordeal akin to other high-profile crypto cases, including Ripple&#39;s ongoing litigation.During the June 20 hearing, Judge Orrick expressed his inclination to align with previous rulings by Judges Rakoff and Failla, who similarly rebuffed motions to dismiss in analogous cases. This signals a significant setback for Kraken, setting the stage for a prolonged legal skirmish over the classification of digital assets as securities, which could have far-reaching implications for cryptocurrency regulation in the United States.<a href="https://cryptotale.org/krakens-fate-hangs-in-balance-as-sec-lawsuit-takes-unexpected-turn/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Kraken's Fate Hangs in Balance as SEC Lawsuit Takes Unexpected Turn

CryptoTale

Інші статті, опубліковані 22 черв. 2024 р.

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