XRP Politely Boycotted as SEC Names ADA, MATIC, SOL as Securities in Kraken Suit
XRP security status showcased in grand style as SEC sues Kraken...
- The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Kraken exchange, accusing it of operating as a securities exchange without proper registration.
- The SEC labeled several altcoins traded on Kraken, including Cardano (ADA), Axie Infinity (AXS), Algorand (ALGO), Cosmos (ATOM), Chiliz (CHZ), Polygon (MATIC), and Solana (SOL), as securities.
- Notably, the SEC omitted XRP from the lawsuit, indicating its recognition as a nonsecurity.
- Ripple Labs, the company behind XRP, has been involved in a high-profile case with the SEC, which alleged that XRP was sold as an unregistered security.
- Kraken plans to fight back against the SEC's lawsuit, marking the second time the exchange has been sued by the regulator this year.
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The sentiment of the article is negative, as it highlights the ongoing legal battles and regulatory challenges faced by Kraken exchange and the cryptocurrency industry.
You May Ask
What is the SEC accusing Kraken exchange of in its lawsuit?Which altcoins were labeled as securities by the SEC in the lawsuit against Kraken?Why is the omission of XRP from the lawsuit significant?What previous case involving Ripple Labs and the SEC is mentioned in the article?How does Kraken plan to respond to the SEC's lawsuit?