{"id":13958,"date":"2024-03-01T14:30:35","date_gmt":"2024-03-01T14:30:35","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=13958"},"modified":"2024-03-30T06:54:06","modified_gmt":"2024-03-30T06:54:06","slug":"state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/","title":{"rendered":"State Attorneys General and Industry Stakeholders Challenge SEC&#8217;s Jurisdiction in Kraken Lawsuit"},"content":{"rendered":"<p>State attorneys general, along with stakeholders, have raised objections to the U.S. Securities and Exchange Commission&#8217;s (SEC) lawsuit against the cryptocurrency exchange <a href=\"https:\/\/coinengineer.net\/blog\/kraken-announces-new-corporate-service\/\">Kraken<\/a>, arguing that the SEC has overstepped its jurisdiction.<\/p>\n<p>A coalition of state law enforcement officials from Montana, Arkansas, Iowa, Mississippi, Nebraska, Ohio, South Dakota, and Texas jointly submitted an amicus brief in support of Kraken on Thursday. They expressed concerns that the SEC&#8217;s lawsuit could adversely affect consumers and criticized the agency&#8217;s attempt to broaden the definition of an &#8220;investment contract,&#8221; contending that cryptocurrencies should not automatically be classified as securities.<\/p>\n<p>The brief, aligning with arguments presented by Kraken and other crypto firms, emphasized that the states were not endorsing the exchange but rather opposing the federal regulator&#8217;s actions. It highlighted the states&#8217; interest in safeguarding consumer protection and other state laws from potential preemption by the SEC&#8217;s regulatory measures, which might not be as tailored to the specific risks associated with non-securities products.<\/p>\n<p>Furthermore, the filing underscored that state cases have historically played a crucial role in clarifying the definition of investment contracts. It cautioned that if the SEC were to prevail in its lawsuit, it could potentially override state consumer protection laws and regulations pertaining to cryptocurrencies.<\/p>\n<p><em><a href=\"https:\/\/coinengineer.net\/blog\/bitcoin-etfs-surge-inflows-top-12-billion-as-gbtc-selling-slows\/\">One of the world&#8217;s largest crypto events, <strong>TOKEN2049<\/strong> is coming! You can click <strong>here<\/strong> for detailed information about the event.<\/a><\/em><\/p>\n<p><em><a href=\"https:\/\/checkout.token2049.com\/?promo=COINENGINEER\">You can access discounted tickets by clicking here and using the code &#8220;<strong>COINENGINEER<\/strong>&#8220;.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>State attorneys general, along with stakeholders, have raised objections to the U.S. Securities and Exchange Commission&#8217;s (SEC) lawsuit against the cryptocurrency exchange Kraken, arguing that the SEC has overstepped its jurisdiction. A coalition of state law enforcement officials from Montana, Arkansas, Iowa, Mississippi, Nebraska, Ohio, South Dakota, and Texas jointly submitted an amicus brief in<\/p>\n","protected":false},"author":6,"featured_media":10488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,2],"tags":[1564,39],"class_list":["post-13958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exchange-news","category-news","tag-kraken","tag-sec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>State Attorneys General and Industry Stakeholders Challenge SEC&#039;s Jurisdiction in Kraken Lawsuit - Coin Engineer<\/title>\n<meta name=\"description\" content=\"State attorneys general, along with stakeholders, have raised objections to the SEC lawsuit against the cryptocurrency exchange Kraken, arguing that the SEC has overstepped its jurisdiction.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State Attorneys General and Industry Stakeholders Challenge SEC&#039;s Jurisdiction in Kraken Lawsuit - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"State attorneys general, along with stakeholders, have raised objections to the SEC lawsuit against the cryptocurrency exchange Kraken, arguing that the SEC has overstepped its jurisdiction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-01T14:30:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-30T06:54:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/01\/Kraken.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"427\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/\",\"name\":\"State Attorneys General and Industry Stakeholders Challenge SEC's Jurisdiction in Kraken Lawsuit - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/01\/Kraken.jpg\",\"datePublished\":\"2024-03-01T14:30:35+00:00\",\"dateModified\":\"2024-03-30T06:54:06+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"description\":\"State attorneys general, along with stakeholders, have raised objections to the SEC lawsuit against the cryptocurrency exchange Kraken, arguing that the SEC has overstepped its jurisdiction.\",\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/01\/Kraken.jpg\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/01\/Kraken.jpg\",\"width\":768,\"height\":427,\"caption\":\"Kraken\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"State Attorneys General and Industry Stakeholders Challenge SEC&#8217;s Jurisdiction in Kraken Lawsuit\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"State Attorneys General and Industry Stakeholders Challenge SEC's Jurisdiction in Kraken Lawsuit - Coin Engineer","description":"State attorneys general, along with stakeholders, have raised objections to the SEC lawsuit against the cryptocurrency exchange Kraken, arguing that the SEC has overstepped its jurisdiction.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/","og_locale":"en_US","og_type":"article","og_title":"State Attorneys General and Industry Stakeholders Challenge SEC's Jurisdiction in Kraken Lawsuit - Coin Engineer","og_description":"State attorneys general, along with stakeholders, have raised objections to the SEC lawsuit against the cryptocurrency exchange Kraken, arguing that the SEC has overstepped its jurisdiction.","og_url":"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/","og_site_name":"Coin Engineer","article_published_time":"2024-03-01T14:30:35+00:00","article_modified_time":"2024-03-30T06:54:06+00:00","og_image":[{"width":768,"height":427,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/01\/Kraken.jpg","type":"image\/jpeg"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/","url":"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/","name":"State Attorneys General and Industry Stakeholders Challenge SEC's Jurisdiction in Kraken Lawsuit - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/01\/Kraken.jpg","datePublished":"2024-03-01T14:30:35+00:00","dateModified":"2024-03-30T06:54:06+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"description":"State attorneys general, along with stakeholders, have raised objections to the SEC lawsuit against the cryptocurrency exchange Kraken, arguing that the SEC has overstepped its jurisdiction.","breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/01\/Kraken.jpg","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/01\/Kraken.jpg","width":768,"height":427,"caption":"Kraken"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/state-attorneys-general-and-industry-stakeholders-challenge-secs-jurisdiction-in-kraken-lawsuit\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"State Attorneys General and Industry Stakeholders Challenge SEC&#8217;s Jurisdiction in Kraken Lawsuit"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/13958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=13958"}],"version-history":[{"count":6,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/13958\/revisions"}],"predecessor-version":[{"id":16875,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/13958\/revisions\/16875"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/10488"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=13958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=13958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=13958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}