Kraken denies SEC allegations, says digital assets are not securities

PANews reported on September 17 that according to Cointelegraph, the crypto exchage Kraken denied the U.S. Securities and Exchange Commission's (SEC) allegations that it violated federal securities laws, saying that the assets cited by the regulator did not meet the legal definition of securities. Kraken stated in a legal document that it did not violate "Sections 5, 15(a), and 17A of the Securities Exchange Act of 1934" because the cited assets "are not securities or investment contracts." It is reported that the assets mentioned in the SEC's charges include Solana's SOL, Cardano's ADA, Algorand's ALGO Cosmos, Filecoin's FIL, Polygon's MATIC and five other crypto assets.