đš Breaking News: Major Victory for Kraken and the Crypto Industry!
In a groundbreaking decision, the Federal Court for the Northern District of California has ruled that none of the tokens traded on Kraken are considered securities. This ruling marks a significant triumph for Kraken, the broader crypto community, and the ongoing quest for regulatory clarity.
Key Points:
The SEC's notion of "crypto asset security" has been firmly rejected.
The Court has clarified that a token itself is NOT a security.
However, the agreements surrounding a token may still face legal scrutiny.
As the case moves into the discovery phase, Kraken remains confident in demonstrating that the Howey Test criteria do not apply.
This ruling underscores the urgent need for Congress to create a comprehensive regulatory framework for the cryptocurrency industry.
Stay informed as Kraken continues to advocate for clarity and progress in the crypto space!
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