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A Win for Fairness
Today marks a significant milestone in the journey towards regulatory clarity and innovation in the digital asset space. We are thrilled to announce that the SEC staff has agreed in principle to dismiss its lawsuit against Kraken with prejudice, without admission of wrongdoing, no penalties paid, and no changes to our business.
This decision is not just a legal victory; it’s a turning point for fairness and transparency in the crypto industry. The dismissal ends a futile, politically motivated campaign that stifled innovation and investment, replaced by a clear path towards a stable and forward-thinking regulatory regime.
Throughout this ordeal, Kraken has consistently operated with integrity and dedication to doing what is right. It is no surprise then that the SEC’s decision confirms our stance: regulatory actions must be based on facts, not political agendas. This case never was about protecting investors; instead, it clouded rather than clarified the crypto landscape.
The reckless regulation-by-enforcement approach employed by prior leadership at the SEC and government agencies not only hindered progress but also put the US behind other countries that fostered innovation through fair and transparent digital asset regulatory regimes.
This decision lifts the uncertainty that has stifled growth, encourages responsible business practices, and ensures the US remains competitive in the global digital asset economy. It is a beacon of hope for those seeking to harness the power of blockchain technology to improve lives and drive economic empowerment.
In a broader context, this victory paves the way for strengthening economic opportunities for millions of Americans who rely on Kraken to access digital assets and take control of their financial journeys. Regulatory overreach can harm businesses, but it also restricts opportunities for individuals seeking alternative financial tools.
We remain committed to working alongside policymakers and regulatory bodies to establish guidelines that safeguard consumers while fostering technological advancement. The new leadership at the White House and the Commission is worthy of praise for their bold and thoughtful approach, which will undoubtedly lead to a brighter future for US crypto innovation.
As we put this chapter behind us, Kraken reaffirms its commitment to pioneering a future where innovation and responsible regulation converge.
