Kraken claims that digital assets are not securities, denying the SEC's allegations against it

ChainCatcher news, Kraken responds to the U.S. Securities and Exchange Commission (SEC) allegations of violating federal securities laws. The SEC claims that several digital assets offered by Kraken are unregistered securities. In its legal response, Kraken firmly denies these allegations, insisting that the assets in question do not meet the legal definition of securities under U.S. law, including Cardano (ADA), Algorand (ALGO), Cosmos (ATOM), and other digital assets traded on Kraken are not investment contracts. The exchange argues that the SEC has failed to demonstrate that the digital assets in question meet the standards outlined in the Howey test, and therefore are not under the jurisdiction of the SEC.