Kraken vows to 'vigorously defend' SEC lawsuit amid Congressional support


21 Nov 2023 9:35 AM

Crypto exchange Kraken said its operations are unaffected by the SEC lawsuit, promising to defend itself against the regulator....

  • Crypto exchange Kraken is planning to vigorously defend itself against a lawsuit brought by the U.S. Securities and Exchange Commission (SEC).
  • CEO David Ripley and co-founder Jesse Powell strongly dispute the SEC's claim that the exchange lists securities.
  • Kraken states that the lawsuit does not impact its products and it will continue to service clients without interruption.
  • The exchange argues that the SEC's allegations are incorrect, false, and disastrous as a matter of policy.
  • Ripley criticizes the SEC for urging exchanges to register without providing clear regulatory guidelines.
  • Powell describes the SEC as an extortionist and questions its motives.
  • Members of the U.S. Congress, including Senator Cynthia Lummis and Warren Davidson, have shown support for Kraken.
  • Lummis criticizes the SEC's enforcement-driven approach and calls for a clear regulatory framework.
  • Davidson reposts a social media post urging Kraken customers to have their voices heard.

The sentiment of the article is negative towards the SEC, with Kraken strongly disputing the allegations and criticizing the regulator's approach. Members of Congress show support for Kraken and criticize the SEC's enforcement actions.

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What is Kraken's response to the lawsuit brought by the SEC?How does Kraken describe the SEC's allegations?What criticism does David Ripley have towards the SEC?Who has shown support for Kraken in Congress?What sentiment does the article express towards the SEC's actions?

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