A federal judge in the US has rejected Kraken’s request to appeal the Securities and Exchange Commission’s (SEC) decision to allow the lawsuit to proceed. Judge William Orrick stated that the SEC had sufficiently argued that cryptocurrencies traded on Kraken were investment contracts under the Howey test. Orrick emphasized that an appeal at this stage would delay the final resolution of the case. Kraken’s arguments were rejected by the SEC on the grounds that current law defines investment contracts. What do you think about these developments? Let’s discuss them in the comments.