The US Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Kraken with prejudice, meaning the case cannot be refiled.
This decision marks a significant win for the crypto exchange, as it avoids any admission of wrongdoing, financial penalties, or operational changes. Kraken described the dismissal as not just a legal victory but a pivotal moment for the future of cryptocurrency regulation in the United States.
The exchange emphasized that the SEC’s reversal puts an end to what it called a politically motivated campaign that hindered innovation and investment in the industry. With the lawsuit dismissed, Kraken believes this move sets a precedent for a more stable and progressive regulatory environment. The exchange also credited the leadership shift within both the White House and the SEC for influencing the decision, stating that this new direction will foster greater crypto adoption and innovation.
This latest development is part of a broader pattern, as the SEC has recently dropped multiple crypto-related lawsuits. Just last week, the Commission ended its legal battles with Coinbase, Gemini, Consensys, Robinhood, and Uniswap, signaling a shift in regulatory approach. The crypto industry sees these dismissals as a step toward a more constructive dialogue between regulators and blockchain firms.
0 Comments