The SEC's motion described Kraken's claims about a lack of clarity in securities laws as "legally unsupportable," asserting that such defenses must be dismissed.
Despite Kraken's efforts to dismiss the case, the Northern District Court of California has consistently ruled against them, emphasizing clear definitions in securities law established since 1934.
The SEC highlighted that Kraken has pursued an extensive and burdensome discovery process, requesting numerous documents, which complicates the judicial process while reiterating the weaknesses of their legal position.
With the rejection of Kraken's defenses, the SEC aims to streamline the litigation process by urging a dismissal, ensuring the focus remains on compliance with established laws.
Collection
[
|
...
]