TechFlow reported, according to Bloomberg, that cryptocurrency exchange Kraken submitted on Thursday a response to the U.S. Securities and Exchange Commission's (SEC) April letter regarding the motion to dismiss the case against the company, stating that the agency failed to identify "any investment contracts traded (or potentially traded), intermediated, or settled on Kraken." The filing noted that the SEC repeatedly used terms such as "concept" of investment and "ecosystem" in its arguments, rather than "investment contract" and "enterprise."
The U.S. Securities and Exchange Commission (SEC) accused Kraken in November of operating an unregistered broker, dealer, exchange, and clearing agency. The agency has brought similar charges in cases against Binance Holdings and Coinbase Global.
