Kraken Stuck With Ruling Cryptocurrency Can Be Regulated by SEC

Payward Inc., which does business as Kraken, isn’t entitled to an immediate appeal of an August ruling that the Securities and Exchange Commission sufficiently showed that the third-party cryptocurrency that are traded on Kraken are investment contracts subject to SEC regulation, a federal court said.

Kraken asked Judge William H. Orrick of the US District Court for the Northern District of California to certify three questions for interlocutory appeal to the US Court of Appeals for the Ninth Circuit: whether an investment contract can be the basis for a violation of the Securties Exchange Act; whether an investment contract without ...