The decision marks a shift in the supervision of the cryptocurrency market in the United States.
The Securities and Exchange Commission (SEC) has “agreed in principle” to drop its lawsuit against the Kraken exchange. This decision is part of a broader reassessment of the agency’s regulatory approach to the crypto sector.
“This is not just a legal victory – it’s a turning point for the future of crypto in the United States,” Kraken said in an official statement, emphasizing how the decision ends a politically motivated campaign, removes uncertainty that had been hindering innovation and investment, and paves the way for a more stable and future-oriented regulatory regime.
Marco Santori, Senior Advisor at Kraken, celebrated the win, stating on X:
The lawsuit against Kraken, initiated in November 2023, accused the company of operating as an unregistered securities exchange, engaging in broker activities without authorization, and acting as a clearing agency without the necessary permits.
In the past week, the SEC has dismissed at least six legal proceedings against major industry players, including Coinbase, Consensys, Gemini, OpenSea, Uniswap Labs, and Robinhood Crypto.
