SEC Agrees to Drop Lawsuit Against Kraken
Kraken has announced that the US Securities and Exchange Commission has reached an agreement in principle to drop its lawsuit against the cryptocurrency exchange.
This marks the latest in a series of legal dismissals by the market regulator against crypto companies.
In a blog post on Monday, Kraken stated that the resolution involves no admission of wrongdoing, no financial penalties, and no changes to its business operations.
In the past month alone, the securities regulator has either dismissed or paused at least nine legal actions against crypto firms, including some targeting key players in the sector.
These include high-profile lawsuits against crypto exchanges Coinbase Global Inc and Binance Holdings Ltd, which were filed within a day of each other in mid-2023. Additionally, the SEC has issued threats of legal action against Robinhood Markets Inc., Uniswap Labs, and OpenSea.
