US SEC: Stick to the “ecosystem” view, digital asset buyers are “buying something”
Fox journalist Eleanor Terrett wrote on X platform that during the Kraken hearing on the motion to dismiss by the US Securities and Exchange Commission (SEC), the SEC maintained its view of the "ecosystem" to indicate that digital asset buyers are "buying something". SEC lawyers encouraged Judge Orrick to not only consider the contract, but also the overall "substance", such as promotional materials and issuer statements; he even cited Kraken's website, which mentions the "ecosystem".
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