Kraken is off the hook after the Securities and Exchange Commission dropped its civil enforcement action against the cryptocurrency exchange.
The case was dropped with prejudice, which means the agency cannot refile the charges against the company. The SEC sued Kraken for allegedly operating as an unregistered securities exchange, broker, dealer and clearing agency in November 2023.
The announcement is the latest in a string of dismissals by the SEC under the new Trump administration. The SEC in February dismissed or paused at least nine cases against crypto companies, including ones against the largest players. The SEC previously sued crypto exchanges Coinbase and Binance but dropped the actions last month.
“The commission’s…
