SEC: Sticking to the “ecosystem” view, digital asset buyers are “buying something”

According to TechFlow, Fox reporter Eleanor Terrett posted on social media that in Kraken's hearing on the U.S. SEC's motion to dismiss, the SEC insisted on its "ecosystem" view to show that digital asset buyers are "buying something."

SEC lawyers encouraged Judge Orrick to consider not just the contract but the overall “substance,” such as promotional materials and statements by the issuer; he cited Kraken’s website, which mentions an “ecosystem.”