In a blow to the United States Securities and Exchange Commission (SEC), Kraken, the second largest cryptocurrency exchange in the US, has fired back at the agency regarding its lawsuit against the platform, citing a crucial aspect of Ripple’s case.
Kraken Responds to The US SEC
Bill Morgan, a legal expert, shared the information concerning the lawsuit on the social media platform X (formerly Twitter) on Friday. “It is interesting how Kraken summarises and references a significant portion of the Ripple case,” Morgan stated.
Morgan highlighted that Kraken bases its stance on the claim that the SEC has not been able to develop a direct connection between the issuers of certain coins, which the commission calls “crypto asset securities.”
According to the summary of the SEC v. Ripple document that Kraken cited, there is no relationship between the issuer and the buyer. Furthermore, it points out five reasons that demonstrate this lack of connection, with one of
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