Crypto exchange Kraken continues its legal dispute with the US Securities and Exchange Commission (SEC), recently filing a document questioning the regulator's case accuracy. This comes three months after Kraken's motion to dismiss the SEC's lawsuit against it. The exchange alleges the SEC failed to identify any investment contracts traded, brokered, or settled on its platform, instead using terms like "investment concept" and "ecosystem".

The SEC accused Kraken of operating as an unregistered securities exchange, broker, dealer, and clearing agency, facilitating the trading of crypto asset securities since 2018, generating hundreds of millions of dollars. These charges mirror those against Binance and Coinbase.

Kraken denies the SEC's claims and argues the Commission is overstepping its regulatory authority. It contests that cryptocurrencies, particularly those in the SEC's complaint, should be treated as commodities, not securities. The Chamber of Digital Commerce (CDC) backed Kraken's motion, stating the SEC does not allege fraud or consumer harm, only that Kraken has operated as an unregistered securities exchange.