Kraken Lawsuit Dismissed by SEC, Ripple Still Stands in Legal Crosshairs | Airdrop Alert Pro

Cracon announced The Securities and Exchange Commission (SEC) has agreed to dismiss the lawsuit against crypto exchanges by bias. The SEC’s decision means no penalties, no changes to Kraken’s business operations, and no acknowledgment of misconduct. this SEC has closed investigations for major companies Like Opensea, Gemini and Robinhood, but continue to investigate others, including Ripple.

Kraken’s major legal victory

this SEC filed a lawsuit in November 2023accusation Cleken Cleken – (Protected by email) Centralized communicationDispersed exchange Unfortunately client funds and operates as an unregistered securities broker. Instead of settling down, Kraken chose to fight the charges. A federal judge initially ruled that the SEC had a reasonable case, which led to the trial of the case. However, the SEC now decides to drop the charges after reaching an agreement with Kraken. The case will be officially closed before it is approved by the SEC Commissioner.

“This dismissal reveals the cloud of uncertainty. It reiterates that businesses like Kraken prioritize compliance and consumer protection and should not be subject to arbitrary legal battles.”

The company said.

The turning point of crypto in the United States

Kraken celebrates the SEC decision, not just a legal victory. Kraken said the company described the move as a future turning point in the U.S. SEC decision, which ended their so-called politically motivated campaign, eliminating uncertainty that hindered industry innovation and investment.

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SEC’s ever-changing approach to crypto enforcement

Kraken’s victory was due to the fact that the SEC, under its new leadership, broke away from the radical law enforcement strategy of the former SEC chairman’s tenure. Gary Genser Gary Genser Gary Gensler is the current chairman of the Securities and Exchange Commission. He has extensive experience in teaching angels across Wall Street, government regulations, and cryptocurrencies and blockchain at MIT. Gary S. Gensler was born on October 18, 1957 in Baltimore, Maryland. He also earned a degree in economics.Gensler served in the United States Department of the Treasury as Assistant Secretary for Financial Markets from 1997 to 1999, then as Undersecretary for Domestic Finance from 1999 to 2001He has expressed his desire to present crypto-related approach changes later on that include token commitments, decentralized finance, stablecoins, guardianship, exchange-traded resources, and advancing stages. President The new leader expressed his commitment to developing clear, impartial regulations in the cryptocurrency industry rather than relying on “law enforcement regulations.”