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Case Dismissed With No Changes to Kraken’s Operations
The Securities and Exchange Commission (SEC) has dismissed its lawsuit against crypto exchange Kraken with prejudice, meaning the case is permanently closed. Kraken faces no fines, no operational changes, and no admission of wrongdoing.
SEC’s Allegations and Kraken’s Response
The SEC sued Kraken in November 2023, claiming it operated as an unregistered securities exchange and made hundreds of millions from unregistered crypto securities. Kraken dismissed the case as a politically motivated attack that misrepresented its business model.
A Shift in Crypto Regulation?
Kraken sees the lawsuit’s dismissal as a turning point for crypto in the U.S., moving away from what it calls a regulation-by-enforcement approach. The exchange praised new leadership at the White House and SEC, expressing hope for clearer, innovation-friendly regulations. Kraken says it will continue working with policymakers to build a stable, predictable regulatory framework for the digital asset industry.
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