Kraken is seeking to dismiss the lawsuit filed by the US Securities and Exchange Commission (SEC) The SEC sued Kraken in November 2023, alleging that the crypto exchange co-mingled customer funds and listed assets deemed as securities on its platform. Kraken argued that the SEC’s complaint did not touch on fraud or supposed supposed breaches of the law. The firm criticized the SEC for its “regulation-by-enforcement approach” during congressional testimony in May 2023.
Source: Anthonia Isichei, 2024-02-24; https://cryptopotato.com/kraken-moves-to-dismiss-secs-lawsuit/