SEC’s Case Against Kraken Will Proceed to Trial, California Judge Rules

Kraken’s
ill-fated
motion
to
dismiss,
filed
in
February,
argued
that
the
SEC
had
failed
to
state
a
claim
–
essentially,
that
the
facts
in
the
case,
even
if
true,
did
not
constitute
a
violation
of
the
law
–
arguing
that
cryptocurrencies
do
not
meet
the
definition
of
a
security
as
defined
by
the
Howey
Test.