Kraken demands a jury trial in its legal battle with the SEC.
The SEC accuses Kraken of violating securities laws by operating without registration as a broker and clearinghouse.
A California court has permitted the case to proceed to trial, and Kraken is seeking a jury trial.
U.S.-based exchange Kraken has requested a jury trial in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). This move comes after a California judge ruled that the lawsuit against Kraken will proceed to trial. For context, the SEC accused Kraken of violating federal securities laws by failing to register as a broker, clearinghouse, or exchange.
The SEC’s lawsuit, filed in November 2023 in the Northern District of California, seeks to halt Kraken from allegedly violating securities laws and demands disgorgement of “ill-gotten gains” alongside other civil penalties.
The SEC identified 11 digital assets in the complaint, including Cardano (ADA), Algorand (ALGO), Filecoin (FIL), Decentraland (MANA), Polygon (MATIC), and Solana (SOL), classifying them as “unregistered securities.”
Kraken is not the only exchange under scrutiny. The agency has pursued simi…
The post Kraken Demands Jury Trial in SEC Showdown, Stakes High for Crypto appeared first on Coin Edition.