EddieJayonCrypto
4 Mar 25
The US Securities and Exchange Commission (SEC) has dropped its lawsuit against Kraken, a major shift in its crypto enforcement approach. This decision follows the withdrawal of multiple legal actions against other crypto firms, including Coinbase and MetaMask. The SEC had accused Kraken of operatin...
The US Securities and Exchange Commission (SEC) has dropped its lawsuit against Kraken, a major shift in its crypto enforcement approach. This decision follows the withdrawal of multiple legal actions against other crypto firms, including Coinbase and MetaMask. The SEC had accused Kraken of operating as an unregistered securities exchange, but Kraken denied the allegations, citing regulatory uncertainty. The SEC's change in stance reflects increasing pressure from lawmakers and industry leaders criticizing its aggressive regulatory approach. Kraken's victory may set a precedent for other crypto firms, signaling a possible recalibration of the SEC's strategy. The Ripple XRP lawsuit remains the only major crypto case still active for the Commission, but it may also be dropped in the future. The agency's decision to drop the lawsuit reflects a changing stance on crypto enforcement. Over the past week, it has quietly withdrawn multiple legal actions against major crypto companies. In addition to Coinbase and Kraken, the Commission has dropped its probe into Gemini, MetaMask, OpenSea, Tron Foundation, Robinhood, and others. The regulator also saw defeat in a particular crypto case that it actually wanted to pursue. This shift follows increasing pressure from lawmakers and industry leaders who have criticized the SEC's aggressive regulatory approach. Kraken's victory may set a precedent for other crypto firms facing similar lawsuits. The decision to drop these cases signals a possible recalibration of the SEC's strategy, raising questions about how crypto regulation will evolve in the coming months. As of now, the Ripple XRP lawsuit is the only major crypto case still active for the Commission. However, given that Donald Trump has included XRP in his US crypto reserve plan, this lawsuit will likely be dropped in the same manner.