Kraken argues that the SEC’s efforts to refute unaddressed arguments indicate a misunderstanding of the case’s central points.
In its legal defense against a lawsuit from the United States Securities and Exchange Commission (SEC), Kraken has filed a reply refuting the agency’s allegations of trading unregistered securities, arguing that the case lacks precision and misinterprets fundamental legal concepts.
In its response filing, Kraken identifies discrepancies in the SEC’s argument, noting the agency’s failure to accurately identify investment contracts traded on the exchange.
Additionally, Kraken argues that the SEC’s use of terms like “investment concept” and “ecosystem” instead of “investment contract” and “enterprise” reflects a misunderstanding of the case’s legal framework.