Ripple Outcome Influences SEC Actions Against Kraken, Legal Expert Says


21 Nov 2023 7:52 AM

Legal expert Mike Selig has noted a strategic shift in the SEC's approach to cryptocurrency regulation...

  • The U.S. Securities and Exchange Commission (SEC) is taking a more cautious approach in its legal actions against cryptocurrency firms.
  • The SEC has filed a lawsuit against the cryptocurrency exchange Kraken, possibly to assess the security status of crypto secondary sales.
  • Cardano (ADA) and Solana (SOL) have been categorized as securities in the lawsuit, but XRP is not listed.
  • Kraken maintains its commitment to its mission and clients, arguing that it does not list securities and highlighting the lack of clear regulatory guidelines for crypto exchanges.
  • Ripple CEO Brad Garlinghouse criticizes the SEC for deviating from its mission to protect investors and calls for clear federal laws governing digital currencies.

The sentiment in the article is mixed. The SEC's cautious approach is seen as a positive development by legal expert Mike Selig, while Kraken and Ripple express concerns about regulatory clarity and investor protection.

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You May Ask

What is the SEC's approach to legal actions against cryptocurrency firms?Which cryptocurrencies have been categorized as securities in the SEC's lawsuit against Kraken?How does Kraken respond to the SEC's claims?What criticism does Ripple CEO Brad Garlinghouse have regarding the SEC's regulation of cryptocurrencies?What legal victory did Ripple achieve in July that influenced the current legal landscape for digital assets?

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