Kraken Under Fire: Jesse Powell's Response To SEC Accusations
Bitcoinist
21 Nov 2023 7:00 PM
Jesse Powell, Kraken former CEO and founder, has criticized the United States Securities and Exchange Commission (SEC) for the recent lawsuit....
- The US Securities and Exchange Commission (SEC) has filed a second lawsuit against crypto exchange Kraken.
- Jesse Powell, Kraken's former CEO, criticizes the SEC's repeated actions and sees regulatory struggles.
- Kraken settled a previous legal dispute with the SEC, agreeing to pay a $30 million fine and shut down their crypto staking services.
- Kraken defends its operations, stating that the allegations involve a technical argument about whether its digital assets are "investment contracts."
- The company argues that the law supports its stance and refutes allegations of commingling funds.
- Kraken emphasizes its commitment to crypto innovation in the United States and reassures clients that its services will continue without interruption.
- The legal proceedings could have a long-lasting impact on Kraken's finances.
The sentiment of the article is negative towards the SEC's repeated actions and the potential impact on Kraken's finances.
You May Ask
What is the SEC's second lawsuit against Kraken about?Who criticized the SEC's actions and what did they say?How did Kraken settle a previous legal dispute with the SEC?What are the allegations against Kraken and how does the company defend itself?What could be the long-lasting impact of the legal proceedings on Kraken's finances?