Kraken Demands Jury Trial in SEC Lawsuit Over Crypto Asset Securities

The cryptocurrency exchange challenges the SEC's classification of 11 digital assets as securities, arguing for clarity and due process.

Kraken has formally requested a jury trial in its legal battle with the SEC, denying allegations of operating as an unregistered securities exchange.
The SEC's lawsuit against Kraken, which includes claims about 11 digital assets being securities, will proceed to trial as ruled by a California judge.
Kraken's chief legal officer, Marco Santori, emphasized that a court ruling questioned the SEC's classification of these tokens as securities.
The exchange argues that the SEC has not provided clear regulatory guidance and has obstructed its attempts to comply with regulations.
Kraken previously faced SEC litigation over its crypto staking services, resulting in a $30 million fine and a cessation of staking services to U.S. customers.