Coin

<ul class="wp-block-list news-points">
 <li><strong>Judge Orrick rejected Kraken’s appeal bid, allowing the SEC lawsuit to proceed.</strong></li>
 <li><strong>The court ruled that the SEC plausibly alleged that Kraken’s activities involved unregistered securities.</strong></li>
 <li><strong>Discovery will determine if Kraken’s transactions meet the Howey test criteria.</strong></li>
</ul>
<p>California Judge William Orrick has denied Kraken’s request to appeal a prior decision that allowed the U.S. SEC lawsuit against the crypto exchange to move forward. In a November 18 <a href="https://www.courtlistener.com/docket/68023155/106/securities-and-exchange-commission-v-payward-inc/" target="_blank" rel="noopener noreferrer nofollow">ruling</a>, Judge Orrick stated that certifying the appeal would not expedite the litigation and emphasized that the SEC had sufficiently alleged Kraken’s activities involved securities under the Howey test.</p>
<p>Orrick explained that while the SEC’s claims are plausible, the case’s resolution would hinge on discovering whether Kraken’s transactions meet the Howey criteria for investment contracts. “Certification will not materially advance the termination of the litigation,” he wrote, dismissing Kraken’s motion for an interlocutory appeal.</p>
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<h2 class="wp-block-heading" id="h-kraken-s-legal-arguments">Kraken’s Legal Arguments</h2>
<p><a href="https://coinedition.com/kraken-demands-jury-trial-in-sec-showdown-stakes-high-for-crypto/" rel="noopener noreferrer nofollow">Kraken sought</a> to appeal Orrick’s August rejection of its motion to dismiss the case, arguing that substantial questions remain about the application…</p>
<p>The post <a href="https://coinedition.com/kraken-faces-setback-as-judge-rejects-appeal-bid-in-sec-case/" rel="noopener noreferrer nofollow">Kraken Faces Setback as Judge Rejects Appeal Bid in SEC Case</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Kraken Faces Setback as Judge Rejects Appeal Bid in SEC Case

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