Crypto exchange Kraken filed a motion to dismiss the lawsuit it faces by the U.S. Securities and Exchange Commission. The U.S. Securities and Exchange Commission didn't allege actual fraud or harms to Kraken's consumers, the exchange argued in a motion to dismiss the lawsuit it faces. This is one of several lawsuits the industry is tracking, including those against Coinbase and Binance.US, plus a new entrant hoping to secure a favorable ruling in a specific district.
Coinbase stock: The bitcoin leader's breakout attempt failed this week, as the stock market rally has gotten extended.
The Texas-based crypto firm's new suit shows how the industry can use “impact litigation” to get regulatory clarity, lawyers Jake Chervinsky and Amanda Tuminelli write.