Kraken seeks SEC documents on Bitcoin, Ethereum and trading policies
The discussion was extended until March 31, 2025
Kraken is seeking internal SEC documents on Bitcoin, Ethereum, and the agency’s trading policies through the courts.
In a legal battle that began over a year ago, Kraken, through its parent companies Payward Inc. and Payward Ventures, insists on obtaining information about the SEC’s internal trading policies, its stance on the two largest cryptocurrencies, and the agency’s public statements regarding digital assets.
The request stems from the SEC's omission of Bitcoin and Ethereum in its legal complaint against Kraken, despite both being traded on the platform like other digital assets. The SEC has yet to clearly explain this discrepancy.
On December 23, the court rejected Kraken's request to compel the SEC to provide these documents, but Kraken plans to resubmit the requests in a more specific form.As a result, the parties have agreed to extend discussions on these matters until March 31, 2025.
What lies behind Hinman’s statements?
Kraken, like Ripple, is pushing for deeper scrutiny into the influence of former SEC Director of Corporation Finance William Hinman’s actions and statements on cryptocurrency regulation.Hinman is known for publicly declaring that Ethereum is not a security, a statement that sparked internal dissent within the SEC, with some colleagues suggesting it could place the agency in a difficult position.
Ripple’s Chief Legal Officer, Stuart Alderoty, has called for an investigation into Hinman’s motives, implying a potential connection between the official and lobbying efforts by the Enterprise Ethereum Alliance (EEA).
Binance, the world’s largest cryptocurrency exchange, and its founder Changpeng "CZ" Zhao have filed a motion to dismiss the lawsuit brought against them by the U.S. Securities and Exchange Commission (SEC).
