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Kraken Proves That Existence of Intangibles Is Just a Social Construct and Also It’s Monday

Crypto NewsHackRegulation/Negotiation 1 Sam Rogers August 16, 2024

An illustration: A large squid (Kraken) wrapped around a seesaw with one side labeled 'SEC' and the other side labeled 'Regulation', both sides are sinking into the ocean as they struggle to balance, in the background there's an image of Congress debating on a ship. The squid has its tentacles holding onto two digital assets floating above the water: Bitcoin and Ethereum. In the distance, a school of fish swim away from the chaos with dollar signs attached to their fins. A faint outline of Monday morning traffic can be seen in the background through the ocean's surface.

I bet you’re itching for some juicy commentary on this one! Let’s get straight to it. In case anyone was still holding out hope, Kraken’s recent court filing should be a stark reminder: cryptocurrency is just numbers on a computer created from nothing and its ‘value’ is purely subjective. The SEC might as well try regulating the air we breathe – after all, someone has an investment contract in that too! And what’s with this constant whining about overreach? Can’t these guys see they’re not above the law

Source: bitcoin.com

Kraken Challenges SEC Overreach in Recent Court Filing
https://news.bitcoin.com/kraken-challenges-sec-overreach-in-recent-court-filing
In a recent motion to dismiss a case brought by the Securities and Exchange Commission (SEC), cryptocurrency exchange Kraken argued that the SEC’s legal theory misinterprets crucial aspects of the case. The court document, dated May 9, 2024, claims the SEC fails to identify legitimate investment contracts involved in the transactions on Kraken’s platform. Kraken’s motion outlines a critical distinction between the primary offerings conducted outside of its platform and […]

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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