Gary

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/sec-takes-action-against-kraken-over-regulations" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC Takes Action Against Kraken Over Regulations</a><br></p>
<p style="text-align: justify">The U.S. Securities and Exchange Commission (SEC) has initiated legal proceedings against the cryptocurrency exchange Kraken. This action specifically challenges defenses raised by Kraken, including claims of “fair notice” and the “doctrine of significant questions.”</p>
<h2 id="what-is-the-intent-behind-this-legal-action">What Is the Intent Behind This Legal Action?</h2>
<p style="text-align: justify">Under the leadership of Gary Gensler, the SEC’s initiative aims to clarify the regulatory environment for the crypto sector. Many view this filing as a strategic effort to obscure the agency’s regulatory tactics.</p>
<h2 id="how-does-kraken-respond-to-sec-s-claims">How Does Kraken Respond to SEC’s Claims?</h2>
<p style="text-align: justify">In its defense, Kraken asserts that it lacked sufficient regulatory guidance on its crypto operations as it relates to the “fair notice” argument. Furthermore, the exchange argues that major policy shifts should not occur without clear instructions from Congress, in line with the “doctrine of significant questions.”</p>
<p style="text-align: justify">The SEC’s actions have drawn criticism from Kraken and supporters in the crypto community, who label the agency’s policies as inconsistent. In a parallel case involving <a href="https://en.bitcoinhaber.net/ripple-allies-with-decentralized-recovery-group" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ripple</a>, the SEC previously failed to obtain a ruling.</p>
<ul>
 <li>The SEC’s action may lead to significant regulatory precedents.</li>
 <li>Kraken claims to have additional defenses that could impact the case’s outcome.</li>
 <li>The evolving situation could influence future regulatory measures in the crypto market.</li>
</ul>
<p style="text-align: justify">The legal actions surrounding Kraken highlight the critical intersection of regulatory oversight and the cryptocurrency industry. As the case unfolds, it may pave the way for clearer regulations that could reshape the landscape for crypto exchanges in the U.S.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/sec-takes-action-against-kraken-over-regulations" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC Takes Action Against Kraken Over Regulations</a></h5>

SEC Takes Action Against Kraken Over Regulations

Table of Contents

BH NEWS

Other articles published on Nov 7, 2024

Unexpected Ethereum Surge: Bitcoin Dominance Takes a Hit

OpenGradient Comes Out of Stealth, Spearheading Secure and Scalable Decentralized AI Solutions

The Rising Contender: Does BlockDAG’s $115M Presale & BULLRUN100 Bonus Signal a Shift Away from D...

Crypto Trading Volume Rebounds to $5.19 Trillion in October 2024, Driven by Derivatives Market

Bitcoin makes a new ATH as the crypto market adds $200 billion overnight following Trump’s victory

Pro-crypto Republicans win House seats as majority control still TBD

Join our free newsletter for daily crypto updates!