đ Big news in the crypto world! A federal judge has ruled that the SEC's lawsuit against Kraken will move forward to trial. The SEC alleges that Kraken failed to register as a broker, exchange, or clearinghouse, violating federal securities laws.
Judge Orrick's ruling clarified that while the cryptocurrencies themselves aren't securities, the transactions on Kraken could be considered investment contracts. Kraken's Chief Legal Officer celebrated this partial win, but the battle is far from over.
What do you think this means for the future of crypto exchanges? Drop your thoughts below! đŹ #CryptoNews #Kraken #SEC
