A California judge rejected Kraken's motion for provisional appeal, saying in Monday's ruling that allowing the appeal would only "delay resolution" of the Securities Exchange Commission's (SEC) ongoing case against the cryptocurrency exchange. Last November, the Securities Exchange Commission sued Kraken, accusing it of operating as an unregistered stock exchange, broker, dealer, and clearing house, and seeking forfeiture of ill-gotten gains and civil penalties as well as a permanent injunction against the cryptocurrency exchange. Kraken denied any wrongdoing and filed to dismiss the case, but the motion was denied in August.