Crypto exchange Kraken says the US Securities and Exchange Commission (SEC) has agreed to drop its lawsuit against the platform

The US Securities and Exchange Commission (SEC) has agreed to drop its lawsuit against Kraken, according to an announcement from the exchange.

The US Securities and Exchange Commission (SEC) has agreed to drop its lawsuit against crypto exchange Kraken, according to an announcement from the exchange.

As part of its post published on Monday, March 3, California-based Kraken said:

“The SEC’s decision to dismiss its lawsuit against us (and many others) is more than just a legal victory — it’s a turning point for the future of crypto in the US.”

This brings to an end a “wasteful, politically motivated campaign” that has “stifled innovation and investment, and clears the path toward a stable, forward-thinking regulatory regime.”

With the ending of the SEC’s lawsuit, Kraken added: “This dismissal confirms what we’ve said all along: Regulatory actions must be based on facts, not political agendas.”

The move from the SEC comes amid a series of dropped lawsuits against crypto platforms. These include Coinbase, Robinhood Crypto, and Uniswap.

The change of direction at the SEC comes amid a pro-crypto approach following US President Donald Trump’s taking office in the White House. Many are now waiting to see whether the SEC’s ongoing case against Ripple will soon be concluded.

In 2020, the agency first sued Ripple, Chris Larsen, co-founder of Ripple, and Brad Garlinghouse, Ripple’s CEO, after alleging that they raised $1.3 billion through the sale of XRP, an unregistered securities offering.