“We disagree with the SEC’s grievance towards Kraken, stand agency in our view that we don’t record securities and plan to vigorously defend our place,” Kraken mentioned in an announcement. “The SEC has repeatedly challenged crypto exchanges to return in and register with no single regulation supporting their place and no clear path to registration. And regardless of opposition from lawmakers, the SEC continues to pursue authorized motion towards these crypto exchanges. For years, we now have advocated for efficient U.S. market regulation that addresses the distinctive dangers and advantages which crypto presents to all people. We consider Congressional motion is probably the most applicable path to resolving the shortage of regulatory readability within the U.S. It’s disappointing to see the SEC proceed down its path of regulation by enforcement, which harms American customers, stunts innovation and damages U.S. competitiveness globally.”
