The SEC has dropped the lawsuit against Kraken, who ends with the ‘political campaign that motivates’
The US Securities and Exchange Commission has Sumang -ayon To drop the lawsuit against Kraken, the cryptocurrency exchange expressed on March 3. The move ends what the exchange of a “waste, political-motivated campaign” and “removed the path to a stable, forward-thinking regulation regulation.”
According to Kraken, the lawsuit was removed with prejudice, without entering the wrong labor, no penalties were paid, and no changes to Kraken’s business. The SEC accused Kraken in November 2023, allegedly the exchange acting as a broker, dealer, exchange and cleaning of the agency without registering with the SEC.
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The SEC, under the leadership of Gary Gensler, is susceptible to a regulation policy by implementing, suing or investigating crypto companies, such as Coinbase, Uniswap and non-bad market opening, for a variety of reasons. This method is widely criticized in the industry for revolt, targeting legitimate crypto companies instead of following bad actors and more.
The latest actions of the SEC may reflect the changing the US government’s environment about crypto. Kraken writes about its case, “This case is not about protecting investors – this and other implementation actions are cloudy rather than clarifying. It allows a nascent industry to repeatly drive clear road policies.”
A climate shift of regulation
Due to the change in the SEC leadership, the agency has removed or it has been reported to overthrow various suits and investigations that began during Gensler’s tenure. In Feb. 27, this Deleted the lawsuit against Coinbase. In the past, it has dropped suits or investigations against consensiss, uniswap, Opensea, Gemini and Robinhood.
https://www.youtube.com/watch?v=csmfzihja0i
The motions are coming as the US is shaping up for increasing regulatory clarity surrounding digital assets. On February 7, US lawmakers Introduced a stablecoin bill to boost dollar dominance. It is possible that lawmakers A general crypto regulation bill can be introduced That is a stronger version of Fit21.
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In addition, there are additional tails: US president Donald Trump, who said he wanted to do the US that “World Capital of Crypto”Ay Reveal Plans for a Crypto Strategic Reserve consists of bitcoin (Btc), Ether (Eth), XRP (XRP), Solana (Sol) and cardano (Ada). The president will hate -host of First White House Crypto Summit on March 7.
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