Cryptocurrency exchange Kraken is facing another lawsuit from the US Securities and Exchange Commission (SEC). The latest SEC filing classified Cardano (ADA) and Solana (SOL), among other cryptocurrencies, as securities. In response to SEC lawsuit alleging unregistered securities exchange transactions, Kraken CEO David Ripley took to social media site X to defend the company’s position. Ripley disagreed with the SEC’s statements and emphasized that Kraken does not offer securities.
The CEO emphasized that the lack of a clear SEC filing path and factual inaccuracies in the allegations underscore a broader problem with policymaking in the United States. He called on Congress to take action to eliminate regulatory ambiguities and pledged to continue supporting Kraken’s efforts to bring clarity to the US crypto environment. Despite the lawsuit, Kraken assures its commitment to its mission and its customers in the US. .US and around the world, without having any impact on the current services offered.
Following similar actions against other major exchanges, the SEC’s lawsuit against Kraken is part of a broader trend toward recognizing various cryptocurrencies as securities. Earlier this year, the SEC filed lawsuits against Binance and Coinbase, alleging that tokens like ADA, SOL, and Polygon (MATIC) are unregistered securities. founder of cardano Carlos HOSKINSON It has since clarified that no enforcement action has been taken specifically against ADA, amid rumors of increased scrutiny by the SEC. Input Output Global (IOG), the company behind the Cardano blockchain, and the Solana Foundation have rejected the regulator’s claims that ADA and SOL are securities.
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