In a recent decision, a California judge has denied Kraken’s motion for interlocutory appeal in the ongoing case against the crypto exchange by the U.S. Securities and Exchange Commission (SEC). The judge stated that allowing an appeal would only serve to delay the resolution of the case.
The SEC has been pursuing legal action against Kraken, alleging that the exchange violated securities laws. Kraken has been fighting back, arguing that the SEC’s claims are without merit.
Despite Kraken’s efforts to seek an interlocutory appeal, the judge’s decision means that the case will continue to move forward in the legal system. This ruling is a setback for Kraken, as it means that the exchange will not be able to delay the proceedings through an appeal.
As the case progresses, both Kraken and the SEC will continue to make their arguments in court. The outcome of this legal battle could have significant implications for the cryptocurrency industry as a whole.
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Overall, the denial of Kraken’s motion for interlocutory appeal is a significant development in this ongoing legal saga. It remains to be seen how the case will ultimately be resolved and what impact it will have on the future of crypto regulation in the United States.
