Fox reporter: The hearing on Kraken's motion to dismiss against the U.S. SEC will be held at 1 a.m

ChainCatcher news, Fox reporter Eleanor Terrett posted on the X platform that the hearing on Kraken's motion to dismiss by the U.S. Securities and Exchange Commission (SEC) will take place today at 1 PM Eastern Time (1 AM Beijing Time on June 21). The SEC accuses Kraken of not being registered as an exchange and broker, claiming that 11 tokens, including SOL, ADA, and ALGO, are securities. The SEC previously raised arguments regarding the "ecosystem" of tokens triggering the Howey test during the Coinbase hearing, and it is expected that similar arguments may be used this time.

It is noteworthy that the SEC has implicitly classified BTC and ETH as commodities by approving spot ETFs for Bitcoin and Ethereum. However, SEC Chairman Gary Gensler has not publicly clarified the specific status of ETH.