{"id":48481,"date":"2025-03-03T18:42:52","date_gmt":"2025-03-03T18:42:52","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sec-to-drop-lawsuit-against-kraken-ending-a-wasteful-politically-motivated-campaign\/"},"modified":"2025-03-03T18:42:52","modified_gmt":"2025-03-03T18:42:52","slug":"sec-to-drop-lawsuit-against-kraken-ending-a-wasteful-politically-motivated-campaign","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sec-to-drop-lawsuit-against-kraken-ending-a-wasteful-politically-motivated-campaign\/","title":{"rendered":"SEC to drop lawsuit against Kraken, ending a &#8220;wasteful, politically motivated campaign&#8221;"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/Kraken-De-Piotr-Swat-shutterstock-300x200-1-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/Kraken-De-Piotr-Swat-shutterstock-300x200-1-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/Kraken-De-Piotr-Swat-shutterstock-300x200-1-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/Kraken-De-Piotr-Swat-shutterstock-300x200-1-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li aria-level=\"1\">The SEC filed a lawsuit against Kraken in 2023<\/li>\n<li aria-level=\"1\">The agency argued that the platform was operating without conducting the proper registration<\/li>\n<li aria-level=\"1\">Kraken said the SEC\u2019s decision was a \u201cturning point for the future of crypto in the US\u201d<\/li>\n<\/ul>\n<p>The US Securities and Exchange Commission (SEC) has agreed to drop its lawsuit against Kraken, according to an announcement from the exchange.<\/p>\n<p>In a <a href=\"https:\/\/blog.kraken.com\/news\/sec-lawsuit-dismissal\" target=\"_blank\" rel=\"noopener\">post<\/a> published on Monday, March 3, <a href=\"https:\/\/coinjournal.net\/search\/Kraken\">Kraken<\/a> said:<\/p>\n<p>\u201cThe SEC\u2019s decision to dismiss its lawsuit against us (and many others) is more than just a legal victory \u2014 it\u2019s a turning point for the future of crypto in the US.\u201d<\/p>\n<p>The California-based crypto exchange added that it brings to an end a \u201cwasteful, politically motivated campaign\u201d that has \u201cstifled innovation and investment, and clears the path toward a stable, forward-thinking regulatory regime.\u201d<\/p>\n<p>In a post on <a href=\"https:\/\/x.com\/msantoriESQ\/status\/1896585684301054083\" target=\"_blank\" rel=\"noopener\">X<\/a>, Marco Santori, Kraken\u2019s <a href=\"https:\/\/coinjournal.net\/news\/kraken-appoints-former-paxos-executive-as-its-new-chief-legal-officer\/\">former chief legal officer<\/a>, said: \u201cWe beat the SEC.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We beat the SEC!<\/p>\n<p>Congratulations to the best legal team in crypto.<\/p>\n<p>Fighting \u2013 and beating \u2013 the SEC was not foretold. Lawyers, lobbyists and everyone in between\u2026 We had to earn it.<\/p>\n<p>Details here: <a href=\"https:\/\/t.co\/K35yRp6gKn\">https:\/\/t.co\/K35yRp6gKn<\/a> <a href=\"https:\/\/t.co\/sGPFOF4q1W\">https:\/\/t.co\/sGPFOF4q1W<\/a><\/p>\n<p>\u2014 Marco Santori (@msantoriESQ) <a href=\"https:\/\/twitter.com\/msantoriESQ\/status\/1896585684301054083?ref_src=twsrc%5Etfw\">March 3, 2025<\/a><\/p>\n<\/blockquote>\n<h2>SEC files a lawsuit<\/h2>\n<p>The <a href=\"https:\/\/coinjournal.net\/news\/sec-charges-kraken-with-unregistered-operations-and-fund-mixing\/\">SEC filed a lawsuit against Kraken in 2023<\/a>, arguing that the platform had been operating without the proper registration.<\/p>\n<p>Last August, US District Judge William Orrick <a href=\"https:\/\/coinjournal.net\/news\/judge-denies-kraken-motion-to-dismiss-sec-lawsuit\/\">denied Kraken\u2019s motion to dismiss SEC\u2019s lawsuit<\/a>. In <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.cand.421113\/gov.uscourts.cand.421113.90.0.pdf\">court documents<\/a>, the judge noted that the regulator\u2019s allegations that the crypto exchange had offered unregistered securities were plausible.<\/p>\n<p>With the ending of the SEC\u2019s lawsuit, Kraken added in its announcement: \u201cThis dismissal confirms what we\u2019ve said all along: Regulatory actions must be based on facts, not political agendas.\u201d<\/p>\n<h2>Change of direction<\/h2>\n<p>The move from the SEC comes amid a series of dropped lawsuits against crypto platforms. These include <a href=\"https:\/\/coinjournal.net\/news\/coinbase-scores-major-win-as-sec-set-to-drop-lawsuit\/\">Coinbase<\/a>, <a href=\"https:\/\/coinjournal.net\/news\/sec-drops-investigation-into-robinhood-crypto\/\">Robinhood Crypto<\/a>, and <a href=\"https:\/\/coinjournal.net\/news\/sec-drops-case-against-uniswap-marking-a-huge-win-for-defi\/\">Uniswap<\/a>.<\/p>\n<p>The change of direction at the SEC comes amid a pro-crypto approach following US President Donald Trump\u2019s taking office in the White House. Many are now waiting to see whether the <a href=\"https:\/\/coinjournal.net\/search\/Ripple+SEC\">SEC\u2019s ongoing case against Ripple<\/a> will soon be concluded.<\/p>\n<p>In 2020, the agency first sued Ripple, Chris Larsen, co-founder of Ripple, and Brad Garlinghouse, Ripple\u2019s CEO, after <a href=\"https:\/\/www.sec.gov\/newsroom\/press-releases\/2020-338\">alleging that they raised $1.3 billion<\/a> through the sale of XRP, an unregistered securities offering.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/sec-to-drop-lawsuit-against-kraken-ending-a-wasteful-politically-motivated-campaign\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The SEC filed a lawsuit against Kraken in 2023 The agency argued that the platform was operating without conducting the proper registration Kraken said the SEC\u2019s decision was a \u201cturning point for the future of crypto in the US\u201d The US [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":48482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48481"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=48481"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48481\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/48482"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=48481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=48481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=48481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}