As a seasoned crypto investor with over two decades of experience in the financial industry, I find myself deeply concerned about the recent turn of events in the SEC v. Kraken case. John Reed Stark’s assessment of this ruling as a massive victory for the SEC resonates with my understanding of regulatory trends and their potential impact on our market.
In simple terms, John Reed Stark, previously with the U.S. Securities and Exchange Commission, characterized the latest decision in the SEC vs. Kraken lawsuit as a significant win for the regulatory body.
According to a report from U.Today, Judge William Orrick denied Kraken’s attempt to dismiss a closely monitored lawsuit earlier in the week.
In November, the Securities and Exchange Commission filed a lawsuit against Kraken, claiming that they were selling unregistered securities through their exchange. Among the digital assets named in this allegation are well-known cryptocurrencies like Cardano (ADA) and Solana (SOL).
Marco Santori, the legal head of Kraken, tried to frame the latest decision as a substantial victory for their company. He emphasized that the judge dismissed the vague and inappropriately used term “crypto asset security.”
Nevertheless, the judge clarified that the semantic mistake did not make it difficult to understand the regulator’s argument that Kraken was accountable for offering unregistered securities through its platform.
In simpler terms, the judge believes that the resale of cryptocurrency assets on Kraken could reasonably pass the Howey Test.
According to Stark’s observation, the Ripple case holds minimal relevance as a guiding principle for any court judgments within the United States legal system.
“I’ve got to hand it to Judge Orrick for another careful and uncontestable win in the crypto sphere, and I tip my hat to the SEC for a job well done, just like Samuel L. Jackson would say.” (In this version, the speaker is a crypto investor expressing approval towards Judge Orrick’s decision and the SEC’s work.)
As a researcher, I’m confident that our legal team at Kraken holds a strong belief in our victory against the U.S. Securities and Exchange Commission. Today’s decision aligns with what we’ve consistently asserted: the SEC’s attempts to regulate cryptocurrency through enforcement measures are questionable. In simpler terms, according to our top lawyer, Santori, the SEC’s methods for regulating crypto are not convincing.
Read More
- ENA PREDICTION. ENA cryptocurrency
- USD PHP PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- SHIB PREDICTION. SHIB cryptocurrency
- USD COP PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- Red Dead Redemption: Undead Nightmare – Where To Find Sasquatch
- USD ZAR PREDICTION
- BRISE PREDICTION. BRISE cryptocurrency
2024-08-25 15:34