The U.S. Securities and Alternate Fee (SEC) is dropping prices as soon as once more in one other high-profile crypto investigation.
Based on Kraken, the second-largest US crypto alternate by quantity, the SEC has agreed “in precept” to dismiss its lawsuit in opposition to the alternate.
Kraken says the SEC is dropping the lawsuit “with prejudice, with no admission of wrongdoing, no penalties paid and no adjustments to our enterprise.”
Based on Kraken, the SEC’s investigation was politically motivated and meritless.
Stated Kraken of the SEC’s investigation final yr,
“The SEC is transferring within the flawed course. Its theories in litigation are incoherent. We stay dedicated to doing what we consider is true for our neighborhood of shoppers and innovators. Our mission – accelerating the adoption of cryptocurrency so that everybody can obtain monetary freedom and inclusion – stays central to every thing we do.”
The alternate now says it seems ahead to regulatory readability from the brand new regime.
The announcement is the most recent in a string of adjustments to the SEC’s crypto regulatory insurance policies. Along with the consolidation and creation of a brand new crypto activity drive, the Cyber and Rising Applied sciences Unit (CETU), simply final week, the SEC additionally dropped a number of different big-name investigations in February, together with inquiries into Coinbase, Robinhood, Opensea and MetaMask.
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