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Kraken emphasizes the need for clear regulations to foster innovation and investor protection in the crypto sector.
Photo: Tiffany Hagler
Key Takeaways
- The SEC agreed to dismiss its lawsuit against Kraken without penalties or changes to business operations.
- Kraken emphasized the need for a stable regulatory framework to encourage responsible growth in the digital asset economy.
The US SEC has agreed to dismiss its lawsuit against crypto exchange Kraken with prejudice, requiring no admission of wrongdoing, no penalties, and no changes to the company’s business operations.
“The SEC staff has agreed in principle to dismiss its lawsuit against Kraken with prejudice, with no admission of wrongdoing, no penalties paid and no changes to our business,” Kraken announced today.
The company characterized the SEC’s lawsuit as misrepresenting its business model and suggested the case “was never about protecting investors.” According to Kraken, the enforcement action “clouded instead of clarified” regulations for the crypto industry.
“This dismissal lifts that cloud of uncertainty. It reaffirms that businesses like Kraken, which prioritize compliance and consumer protection, should not be subject to arbitrary legal battles,” the company stated.
The crypto exchange expressed approval of “new leadership both at the White House and the Commission” and their role in the dismissal. Kraken said it would continue working with policymakers and regulators to establish protective guidelines while fostering technological advancement.
“A stable, predictable regulatory framework will encourage responsible growth, attract investment and ensure the US remains competitive in the global digital asset economy,” Kraken noted.
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English (US) ·