Odaily Planet Daily News Fox Business reporter Eleanor Terrett posted on the X platform that Kraken will hold an oral argument on the court motion to dismiss the US SEC enforcement action today, which is expected to start at 1 pm Eastern Time/10 am Pacific Time. Earlier news, the US Securities and Exchange Commission has operated Kraken as an unregistered exchange and broker, and also claimed that 11 tokens including SOL, ADA and ALGO are securities. The focus of this court debate is whether the lawyers of the US Securities and Exchange Commission will still cite the Howey test as the basis for judging securities products. Eleanor Terrett pointed out that the US Securities and Exchange Commission has assigned commodity status to Bitcoin and Ethereum by approving spot ETFs, but so far, US SEC Chairman Gary Gensler has not clarified the attributes of Ethereum.
