In a move led by SEC Chairman Gary Gensler’s team, the SEC has filed a motion seeking judgment against cryptocurrency exchange Kraken. The motion aims to limit further discovery into the agency’s regulatory policies, particularly those affecting the crypto sector. The SEC’s motion seeks to dismiss defenses put forward by Kraken, including the fair notice defense and the major questions doctrine.
However, a similar motion was filed in the Ripple case, where the SEC failed to secure a judgment. Kraken’s attorney expects the same outcome in the Kraken case, but the exchange indicated that it has additional defenses if the motion proceeds.
