According to ChainCatcher, according to Cointelegraph, the cryptocurrency trading platform Kraken responded to the SEC's allegations that it violated federal securities laws.

In a legal document filed on September 12, the cryptocurrency exchange denied the SEC's allegations, saying that the assets cited by the regulator did not meet the legal definition of securities. Kraken stated in the document that it did not violate "Sections 5, 15 (a) and 17A of the Securities Exchange Act of 1934" because the cited assets "are not securities or investment contracts."