In another major development for the crypto industry, the US Securities and Exchange Commission (SEC) has agreed to drop the Kraken lawsuit with prejudice. This comes just days after the Commission dropped the Coinbase lawsuit with prejudice.
US SEC Agrees To Drop Kraken Lawsuit With Prejudice
The US SEC has agreed in principle to dismiss the Kraken lawsuit with prejudice, meaning that the Commission won’t be able to refile the case again. The crypto exchange made this revelation in a press release, noting that the SEC will dismiss this case with no admission of wrongdoing, no penalties paid, and no changes to its business.
The top crypto exchange stated that the SEC’s decision to drop the lawsuit is more than just a legal victory but also a turning point for the future of crypto in the US. The company added that the dismissal of the Kraken lawsuit also ends a wasteful, politically motivated campaign, lifts uncertainty that stifled innovation and investment, and clears the path towards a stable, forward-thinking regulatory regime.
The exchange also appreciated the new leadership at the White House and the Commission, which led to this change. Kraken claimed that their “bold and thoughtful” leadership will lead to a new era of crypto innovation.
The post Breaking: US SEC Agrees To Drop Kraken Lawsuit With Prejudice appeared first on CoinGape.
