On November 7th, the US Securities and Exchange Commission (SEC) filed a motion in the Northern District of California seeking to dismiss Kraken's key defense in their ongoing legal dispute. According to the motion filed on Tuesday, the regulatory agency argues that Kraken had prior notice when it accused the company of violating securities laws by offering cryptocurrency as "investment contracts." The timing of the motion being filed on election day has drawn criticism from Kraken's legal team, who believe it is a strategy to avoid "investigating the SEC's defects and inconsistent policies."

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