Market News
Kraken says US SEC to dismiss lawsuit against the cryptocurrency exchange - REUTERS
Summary
- Kraken says no penalties, no admission of wrongdoing
- SEC pulling back on crypto oversight, ended Coinbase case
- SEC declined to comment
NEW YORK, March 3 (Reuters) - Kraken, one of the world's largest cryptocurrency exchanges, said on Monday the U.S. Securities and Exchange Commission agreed in principle to dismiss a civil lawsuit accusing it of operating illegally as an unregistered securities exchange.
In a statement on its blog, Kraken called the dismissal a turning point for cryptocurrency that ended a "wasteful, politically motivated campaign" begun during the Biden administration, and which stifled innovation and investment.
