The U.S. Securities and Exchange Commission (SEC) is maintaining its stance in high-profile legal battles with cryptocurrency exchanges. The SEC insists that Ripple Labs should pay a $2 billion penalty for selling unregistered securities, emphasizing to a New York federal judge that a lower penalty would undermine the regulatory message to the industry. Concurrently, crypto exchange Kraken is seeking to dismiss SEC claims against it, arguing that the agency's demands could significantly reorder U.S. financial regulations. Kraken's motion to dismiss, filed in the Northern District of California, is part of a broader contention that the SEC's actions overreach and lack clear legal basis, with a hearing scheduled for June.
The SEC pushed back against Coinbase's motion for an interlocutory appeal on Friday, after the exchange said an appeals court should weigh in on how securities rules might apply to crypto. @nikhileshde reports https://t.co/XK3KQACAj2
Court should deny Coinbase's appeal, SEC says https://t.co/752iz4NFCl
great brief by Kraken, the SEC takes a beating here precisely and with great clarity, Kraken exposes essentially all of the arguments and supporting citations put forth by the SEC as disingenuous and/or wrong on the law this SEC is truly shameless https://t.co/ylHlN2R8VP
Kraken Seeks Dismissal of SEC Lawsuit Ahead of June Hearing Read More: https://t.co/Pq1s9NkCYt
Proud to see @Krakenfx continue to fight the SEC's overreach in court. As @msantoriesq points out, this lawsuit further underscores the need for a regulatory framework from Congress. We stand with Kraken in pursuing regulatory clarity to ensure US crypto innovation can flourish. https://t.co/UJ3bHRDx3T
Kraken makes another push to dismiss SEC lawsuit ahead of June hearing https://t.co/A29lKUrJ8k
Last night, @krakenfx fired back at the SEC with its final brief in the motion to dismiss the SEC’s complaint. The SEC had its opportunity to tell the Court what, precisely, is the investment contract that supposedly trades on Kraken. But they couldn't. 1/🧵
The war between the Kraken crypto exchange and the U.S. SEC continues amid new statements from the platform https://t.co/6kgFIeTHkU
KRAKEN SEEKS DISMISSAL OF SEC CLAIMS AGAINST THE FIRM: FACTS… - Crypto exchange Kraken has requested the Northern District of California to dismiss the claims brought by the U.S. Securities and Exchange Commission (SEC). - Kraken argues that granting the SEC's demands could… https://t.co/ST2GtQWO8R https://t.co/uovk9S1Lcz
UPDATE: CRYPTO EXCHANGE KRAKEN REQUESTS U.S. COURT TO DISMISS SEC CLAIMS, ARGUES IT WOULD REORDER U.S. FINANCIAL REGULATIONS
.@krakenfx has asked a U.S. court to dismiss the claims brought against it by @SECGov to avoid a "significant reordering" of the U.S. financial regulatory structure. By @amitoj. https://t.co/e7qpTcPxl8
The war of words between Kraken and the US Securities and Exchange Commission continued with a new filing by the crypto exchange that argues the agency’s case isn’t even worded correctly https://t.co/9KwRfXMUXT
The SEC is standing by its call for crypto platform Ripple Labs to pay $2 billion as punishment for selling unregistered securities, telling a New York federal judge that a lower penalty would send the wrong message to the industry at large. https://t.co/gvj9Kb4WZn https://t.co/Wg2Nex8SMb