Cryptocurrency Exchange Sued by the SEC Makes a Statement: “A Victory for Us” – Explained Why
50X Profit Confirmed With BRED Token, Convert your 100 usd to 5000 USD, Pre Sale Price Is $0.01 And Exchange Listing Price Is $0.50, This Is 50X Profit Opportunity, Don't Miss This Pre Sale, Join Now Pre Sale At Official Website, WWW.BREDTOKEN.XYZ

Kraken’s Chief Legal Officer Marco Santori announced that the cryptocurrency exchange has won a significant victory against the U.S. Securities and Exchange Commission (SEC).

According to their statement, a federal court has ruled that tokens traded on Kraken are not securities, dealing a blow to the SEC’s ongoing regulatory approach to the crypto industry.

Santori noted that, as in the Ripple case, the court distinguished between the status of tokens themselves and the agreements surrounding their sale. “A token is not a security, but agreements around a token can be,” Santori explained.

Santori noted that the SEC has “definitively lost” its core argument that all tokens are inherently securities and that theory can no longer be relied upon.

This decision follows an earlier decision by Judge William H. Orrick, who denied Kraken’s request to dismiss the SEC’s lawsuit.

Judge Orrick noted that the SEC had reasonably argued that some crypto transactions at Kraken could be considered investment contracts and therefore subject to securities laws.

Despite this, the latest ruling clarified that Kraken’s token listings themselves do not qualify as securities under current law.

According to Santori, the court criticized the SEC’s approach, calling the concept of “crypto asset security” “vague at best and confusing at worst.” The court also questioned the SEC’s tactics, noting that Kraken has consistently mischaracterized its legal stance, which the court found misleading.

#SEC #Kraken #Bitcoin #CryptoNews #MtGoxRepayments $BTC $ETH $SOL