📢Crypto enthusiasts, buckle up! Kraken, the popular crypto exchange, is not backing down in its dispute with the US Securities and Exchange Commission (SEC). 🥊

Three months ago, Kraken filed a motion to dismiss the SEC's lawsuit against it. Now, they've filed a new document, questioning the accuracy of the SEC's case. 📝

Kraken alleges that the SEC failed to identify any investment contracts traded, brokered, or settled on its platform. They claim the SEC used vague terms like "investment concept" and "ecosystem" instead of concrete terms like "investment contract" and "enterprise". 🤔

The SEC accused Kraken of operating as an unregistered securities exchange, broker, dealer, and clearing agency. They claim Kraken facilitated the trading of crypto asset securities since September 2018, generating hundreds of millions of dollars. 😱

But Kraken's not taking this lying down. They deny the SEC's claims and are ready to fight it out in court. They argue the SEC is overstepping its regulatory authority and that cryptocurrencies should be treated as commodities, not securities. 💪

The Chamber of Digital Commerce (CDC) also filed an amicus curiae to back Kraken's motion. They pointed out that the SEC does not allege fraud or consumer harm, but only claims that Kraken has operated as an unregistered securities exchange. 🤷‍♂️

Stay tuned, folks! This crypto drama is far from over. 🍿🎬