An initial statement has been released by the Kraken exchange, which was just sued by SEC. Here are the details!
The Securities and Exchange Commission (SEC) recently sued the popular cryptocurrency exchange on the grounds of providing unregistered crypto trading service. After the lawsuit was filed, the first statement from the Kraken exchange was received. The exchange stated that it will continue its legal fight.
The company, while waiting for the complaint to be resolved in court, stated that it will defend its position against the allegations.
Attention! Breaking | SEC Sued Kraken Exchange!
In a statement about the legal process, Kraken indicated that the SEC’s claims are unfair and unsupported. The company pointed out that the SEC, which did not mention any charges such as fraud, market manipulation or security breach, is acting with a technical argument. Furthermore, Kraken, reminding of a case conducted with a similar theory before and the court ruled against the SEC, believes they will win this case for the same reasons.
The company also highlighted that the SEC’s ‘mixed fund‘ claim is misleading and deceiving. The company, stating that Kraken does not use customer funds, expressed that such a claim of the SEC is baseless. The company’s stance was emphasized to support the establishment of an effective system, not to be against regulations.
Kraken renewed its commitment to its customers and community during this process, and emphasized that SEC’s claims will not cause any disruptions or interruptions in their operations.
In light of these developments, the crypto community is eagerly awaiting how Kraken will present a defense and how the SEC will respond to it.