SEC Seeks to Dismiss Three of Kraken’s Key Defenses in U.S. Lawsuit

The SEC sued Kraken in November 2023 for operating a platform as an unregistered securities exchange, broker, dealer and clearing agency. The SEC said it believes that since at least September 2018, Kraken had made hundreds of millions of dollars unlawfully by facilitating the buying and selling of crypto asset securities. Kraken filed for the case to be dismissed, a motion that was rejected in August.