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The Defiant 2025-03-03 21:44:57

SEC To Drop Lawsuit Against Kraken As War on Crypto Collapses

The Securities and Exchange Commission’s (SEC) agreed to dismiss its lawsuit against crypto exchange Kraken has ended. The agency will drop all charges against the exchange with no admission of wrongdoing, penalties paid, or changes to its business, Kraken said in a March 3 statement . The move follows several other dismissals for major crypto businesses, including Coinbase, Robinhood, OpenSea, Gemini , and Uniswap Labs , as the SEC takes a more pro-crypto stance in the post-Genser administration. Under Gensler’s leadership, the agency aggressively pursued enforcement actions against crypto companies, often relying on broad interpretations of existing securities laws rather than creating new, industry-specific regulations. The result was a wave of lawsuits and settlements that left the crypto industry uncertain, forcing companies to spend millions on legal battles. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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