COIN - SEC Accusations Misworded? Kraken Fights Back In Crypto Regulation Clash | Benzinga
In the ongoing legal skirmish between Kraken and the U.S. Securities and Exchange Commission (SEC), the cryptocurrency exchange has challenged the SEC's linguistic precision in a fresh legal brief.
What Happened: Kraken's defense, detailed in a response filed last Thursday, criticizes the SEC for not specifying the exact nature of the “investment contracts” involved in the activities on its platform, Bloomberg reported.
Instead, the SEC referred ambiguously to “investment concepts” and “ecosystems.”
Kraken’s legal contention highlights the SEC’s apparent lexical missteps in their April response to Kraken’s motion to dismiss the case.
The exchange argues that the SEC's failure to properly define the securities involved undermines the legitimacy of the regulatory body's accusations.
The SEC's own words from an ...