๐Kraken & SEC are playing a high-stakes game of "Are they or aren't they?" in court, debating if digital assets on Kraken are securities. Judge Orrick is leaning towards a "maybe" but hasn't made up his mind yet.๐ค
๐จโโ๏ธKraken's lawyer, Solomon, insists their case is unique, comparing it to Ripple Labs & Coinbase. SEC, on the other hand, sees Kraken as a crypto "ecosystem" selling tokens as investment contracts, hence securities under Howey test.๐
๐Judge Orrick didn't rule on Kraken's motion to dismiss but hinted he might not. If the case proceeds, he thinks a year should be enough for discovery.๐ต๏ธโโ๏ธ
๐ฎWhat's your take? Are digital assets on Kraken securities or not? Let's hear your thoughts in the comments!๐
P.S. Ether wasn't mentioned in the SEC v. Kraken case, but it's been a hot topic in other crypto firms' legal battles with SEC. Stay tuned for more updates!๐ฟ #DeFi #Web3 #CryptoNews