California judge denies Kraken's request for a temporary appeal

ChainCatcher news, a California judge has rejected Kraken's motion for a temporary appeal, stating in his ruling that allowing the appeal would only "delay" the resolution process of the case the U.S. Securities and Exchange Commission (SEC) is pursuing against the cryptocurrency exchange.
The second-largest cryptocurrency exchange in the U.S., Kraken, filed a motion for a temporary appeal in September (a type of appeal challenging a judge's non-final ruling while allowing other aspects of the case to proceed). A month ago, U.S. District Court Judge William Orrick of the Northern District of California ruled that the SEC's allegations were reasonable, and the cryptocurrencies sold on the Kraken platform could be considered securities under the Howey test.