Catenaa, Monday, March 31, 2025- The Securities and Exchange Commission has dropped legal actions against Kraken, Consensys and Cumberland DRW, signaling a shift in its crypto enforcement strategy, the agency announced Thursday.
The announcement can be seen here.
In three litigation releases, the SEC said its decision was aimed at “facilitating ongoing regulatory reform” rather than assessing the merits of the cases. The dismissal prevents future re-filing, setting a precedent for how the agency may handle similar cases going forward.
Kraken, sued by the SEC in November 2023 over alleged securities violations, confirmed earlier this month that it had reached an “in-principle” agreement with regulators. Co-CEO Dave Ripley welcomed the decision, writing on X, “Glad to finally close this chapter.”
The regulatory shift comes amid political changes following President Donald Trump’s election. Trump has vowed to implement crypto-friendly policies, though reactions from the industry remain mixed. It remains unclear whether the SEC will drop additional cases against other crypto firms.
Despite the dismissals, tensions persist between regulators and the crypto sector. Industry leaders have called for clearer guidelines and a more consistent approach to oversight.
