According to Foresight News , CoinDesk reported that court documents show that the crypto trading platform Kraken requested a jury trial in the lawsuit filed against it by the U.S. Securities and Exchange Commission (SEC). Kraken reiterated that it denied engaging in illegal behavior, responded to every allegation in the SEC lawsuit, and raised 18 other defenses. Kraken has never registered with the SEC because it has never been required to register and is not an exchange, broker-dealer or clearing agent in the sense of the Exchange Act.
Previously, the U.S. SEC sued Kraken in the Northern District Court of California in November last year, asking the court to permanently prohibit the trading platform from further violating securities laws and requiring it to hand over "illegal property" and other civil penalties. The SEC listed ADA, ALGO, ATOM, FIL, FLOW, ICP, MANA, MATIC, NEAR, OMG and SOL tokens as 11 unregistered securities.
