Chamber of Digital Commerce Takes a Stand: SEC vs. Kraken! In the ongoing tussle between the Securities and Exchange Commission (SEC) and
Kraken, the Chamber of Digital Commerce has stepped up to the plate, filing a
court brief on February 27th in support of the crypto exchange.
The SEC's accusations that Kraken operated as an unlicensed securities exchange have raised eyebrows, and the Chamber is not holding back, arguing that this lawsuit poses a grave threat to the
trillion-dollar blockchain community and the countless individuals involved in crypto markets.
Let's rewind to November 2023 when the SEC first threw down the gauntlet, alleging that Kraken had been raking in unlawful profits from crypto asset securities. But wait, there's more! This isn't an isolated case; Coinbase is also duking it out with the SEC over token classifications.
The Chamber isn't mincing words, warning that if regulators continue their hardline stance, we might witness a chilling effect on innovation. They even suggest that some organizations may be forced to pack their bags and leave Uncle Sam's jurisdiction!
