Kraken, one of the largest crypto exchanges in the world, has won a lawsuit against the SEC, marking a significant shift in the commission's approach to the cryptocurrency industry.
Kraken Wins SEC Lawsuit
The US Securities and Exchange Commission (SEC) withdrew its lawsuit against Kraken, announcing this on March 3, 2025. The case was closed without admission of guilt, without fines, and without changes to Kraken's business. Originally, in November 2023, the SEC accused Kraken of operating without a license and trading unregistered securities. Kraken stated this was a politically motivated campaign that misrepresented their business model.
SEC Changes Policy Towards Crypto Industry
The SEC continues to change its stance towards the crypto industry by ending investigations against major crypto exchanges. For instance, Cameron Winklevoss confirmed that the SEC closed its investigation into Gemini. Uniswap Labs and Robinhood also reported no legal consequences after investigations concluded. The new SEC leadership is taking a more open approach to innovation.
Impact of New SEC Approach on Industry
The SEC's new approach to cryptocurrencies under Donald Trump raises hopes for more stable and forward-looking regulation. This offers the industry the opportunity to grow without undue restrictions, encouraging technology development and innovation in the US.
Kraken's court victory over the SEC and the commission's policy changes signal a more favorable climate for the development of the cryptocurrency industry in the US.
