Kraken: The SEC repeatedly used terms such as investment “concepts” and “ecosystems” in its arguments, rather than “investment contracts” and “enterp
cryptocurrency exchange Kraken submitted a response to the US Securities and Exchange Commission's letter in April regarding the company's motion to dismiss the case. The response states that the agency failed to identify "any investment contract(s) offered or sold on (or through) Kraken for trading, intermediation, or settlement." The document points out that the US Securities and Exchange Commission repeatedly used terms such as "investment concept" and "ecosystem" in its arguments instead of "investment contract" and "enterprise." The US Securities and Exchange Commission continues to submit new documents on cryptocurrency exchanges, claiming that the agency's case is not even properly worded.
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