Close Menu
Finance Pro
  • Home
  • Art Gallery
  • Art Investment
  • Art Stocks
  • Cryptocurrency
  • Finance
  • Investing in Art
  • Investments
Facebook X (Twitter) Instagram
Trending
  • Exclusive: Everton’s Goodison Park move part of plan for major sale
  • Cryptocurrency Live News & Updates : GameSquare Allocates $5 Million to Ethereum Treasury
  • Art gallery marks half a century with free admission for locals
  • Get free after-hours access to Chelsea and Tribeca’s art galleries
  • Over £900m lost in UK finance and insurance private investment in 2024
  • Clearbridge Investments Global Infrastructure Income Strategy Q2 2025 Investor Letter
  • Six held for duping firm of Rs 1.93 cr; gang’s Chinese associates convert amount into cryptocurrency – ThePrint –
  • Cicada Finance Kicks Off TGE, Unleashing Real Yield Assets in DeFi with Genesis Mining to Follow
  • Privacy Policy
  • Terms and Conditions
  • Get In Touch
Finance ProFinance Pro
  • Home
  • Art Gallery
  • Art Investment
  • Art Stocks
  • Cryptocurrency
  • Finance
  • Investing in Art
  • Investments
Finance Pro
Home»Cryptocurrency»After Binance And Coinbase, Gary Gensler-Led SEC Set To Lock Horns With Crypto Exchange Kraken
Cryptocurrency

After Binance And Coinbase, Gary Gensler-Led SEC Set To Lock Horns With Crypto Exchange Kraken

August 27, 20242 Mins Read


A California judge has ruled that the lawsuit filed by the Gary Gensler-led Securities and Exchange Commission against cryptocurrency exchange Kraken will proceed to trial, paving way for another high-voltage legal battle between the regulator and a high-profile blockchain-based company.

What Happened: The SEC’s case against Kraken, which was filed last November in the Northern District of California, accuses the trading platform of violating federal securities laws by failing to register as a broker, a similar charge that the regulating body brought against fellow cryptocurrency exchanges, Binance and Coinbase.

According to a Coindesk report Monday, Kraken’s motion to dismiss the SEC’s case was denied by U.S. District Court Judge William H. Orrick, who stated that the SEC has “plausibly alleged that at least some of the cryptocurrency transactions that Kraken facilitates on its network constitute investment contracts, and therefore securities, and are accordingly subject to securities laws.”

However, in a partial victory, the judge agreed that the cryptocurrencies named by the SEC in the lawsuit were “not themselves securities,” although the nature of their purchase and sale brings them within the purview of the act.

The SEC seeks to permanently bar Kraken from further securities violations and demands disgorgement of its “ill-gotten gains” along with other civil penalties.

See Also: Pro-Bitcoin Elizabeth Warren Challenger John Deaton Questions Senator’s Track Record On Fighting Corporate Greed

Why It Matters: This lawsuit follows a series of legal actions by the SEC against major cryptocurrency exchanges.

In June 2023, Binance and its founder Changpeng Zhao were sued by the SEC for allegedly engaging in deceptive tactics, conflicts of interest, and evasion of law. Earlier that year, Coinbase received a Wells notice from the SEC, which led to concerns over the regulator’s approach to regulating the cryptocurrency market.

Both Binance and Coinbase, two of the biggest cryptocurrency exchanges, have decided to legally contast SEC’s claims. Judicial rulings earlier this year denied both of their motions to dismiss the case, paving way for the trial.

Read Next:

Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cryptocurrency Live News & Updates : GameSquare Allocates $5 Million to Ethereum Treasury

July 10, 2025 Cryptocurrency

Six held for duping firm of Rs 1.93 cr; gang’s Chinese associates convert amount into cryptocurrency – ThePrint –

July 10, 2025 Cryptocurrency

Cryptocurrency News Live: Bitcoin, Ethereum, Solana prices today; memecoin updates

July 9, 2025 Cryptocurrency

Cryptocurrency Today: Why BAY Miner Is Redefining the Future of Digital Mining

July 9, 2025 Cryptocurrency

Cryptocurrency Live News & Updates : Greece Freezes Crypto Linked to Bybit Hack

July 9, 2025 Cryptocurrency

Cryptocurrency Live News & Updates : Circle Partners with Bybit for USDC Revenue Sharing

July 9, 2025 Cryptocurrency
Add A Comment
Leave A Reply Cancel Reply

Don't Miss

Exclusive: Everton’s Goodison Park move part of plan for major sale

July 10, 2025 Finance 4 Mins Read

(Credit: Imago / Getty Images) Thu 10 July 2025 20:35, UK Everton’s recent Goodison Park…

Cryptocurrency Live News & Updates : GameSquare Allocates $5 Million to Ethereum Treasury

July 10, 2025

Art gallery marks half a century with free admission for locals

July 10, 2025

Get free after-hours access to Chelsea and Tribeca’s art galleries

July 10, 2025
Our Picks

Exclusive: Everton’s Goodison Park move part of plan for major sale

July 10, 2025

Cryptocurrency Live News & Updates : GameSquare Allocates $5 Million to Ethereum Treasury

July 10, 2025

Art gallery marks half a century with free admission for locals

July 10, 2025

Get free after-hours access to Chelsea and Tribeca’s art galleries

July 10, 2025
Our Picks

Private equity investments in Indian real estate jump 38% to $2.4 bn in H1 2025

July 10, 2025

Latest Investment Trends in the UK

July 10, 2025

Gavin Wanganeen on life after AFL speak out in NAIDOC week | The Standard

July 9, 2025
Latest updates

Exclusive: Everton’s Goodison Park move part of plan for major sale

July 10, 2025

Cryptocurrency Live News & Updates : GameSquare Allocates $5 Million to Ethereum Treasury

July 10, 2025

Art gallery marks half a century with free admission for locals

July 10, 2025
Weekly Updates

Bringing Together Old and New Artists at The Wall Art Gallery

August 19, 2024

How to Invest in Art Without Spending Millions

June 29, 2023

Invest in Women: Europe Café in Chisinau invites everyone to art exhibition

March 8, 2024
  • Privacy Policy
  • Terms and Conditions
  • Get In Touch
© 2025 Finance Pro

Type above and press Enter to search. Press Esc to cancel.