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- The SEC alleges Kraken for violating the federal securities legislation, facilitating unlawful commerce of securities.
- Kraken CEO Dave Ripley strongly disagreed with the allegations, defending that Kraken doesn’t listing securities.
- The crypto alternate co-founder Jesse Powell criticized the SEC, addressing them as masochists.
The U.S. Securities and Alternate Fee (SEC) sued the cryptocurrency alternate Kraken, alleging violation of the federal securities legislation. In response to the allegations, Kraken Co-Founder Jesse Powell condemned the SEC, characterizing their actions as one other “assault on America.”
On November 20, the SEC charged Kraken for allegedly working the crypto platform as “an unregistered securities alternate, dealer, supplier, and clearing company.” As per the accusations, the corporate had been facilitating unlawful commerce of crypto asset securities since 2018.
Subsequently, the corporate got here ahead, expressing its sturdy disagreement with the regulator’s claims. Combating the SEC’s costs, Powell slammed the regulators, addressing them as “masochists.”
In the meantime, Dave Ripley, the CEO of Kraken, defended that the corporate doesn’t listing securities. Ripley criticized the SEC’s allegations as “factually incorrect, opposite to legislation, and the flawed option to create coverage in the USA.” The CEO contended that the corporate would transfer ahead to “defend the crypto trade’s proper to exist within the U.S.”
Moreover, Ripley reiterated the position of Congress in implementing complete crypto regulatory guidelines within the U.S. He believes that Congress’ involvement might deliver readability and certainty to the nation’s “chaotic setting.”
Beforehand, Ryan Selkis, the founder and CEO of the intelligence platform Messari, made an identical assertion that aligns with Ripley’s beliefs. Selkis’s tweet instructed that People lengthy for a day when Congress would ban the “tyrannical authorities” from seizing the citizen’s crypto holdings.
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