SEC Dismisses Kraken Lawsuit as Exchange Resumes On-Chain Staking for US Users ⋅ Crypto World Echo
Cryptocurrency exchange Kraken announced on Monday (today)that the US Securities and Exchange Commission (SEC) had agreed in principle todismiss a civil lawsuit accusing it of operating as an unregistered securitiesexchange.
The SEC’s decision follows a shift in the regulatoryenvironment for cryptocurrency in the US Kraken is now moving to capitalize onthis change. The company has reintroduced on-chain staking services forAmerican customers.
Kraken Lawsuit Dropped, SEC Adjusts Stance
Kraken confirmed that the lawsuit dismissal is withprejudice, meaning it cannot be refiled. The company stressed that thedismissal comes without any admission of wrongdoing, no penalties, and nochanges to its operations, as reported by Reuters.
🚨 BREAKING: Kraken has announced that the SEC has agreed to drop its lawsuit against the cryptocurrency exchange. pic.twitter.com/9UoCldHEDc
— Cointelegraph (@Cointelegraph) March 3, 2025
The lawsuit, filed in November 2023, was part of former SECChair Gary Gensler’s initiative to bring more cryptocurrency activities underSEC regulation.
However, with changes in US leadership, especially afterPresident Donald Trump’s second term and the appointment of Paul Atkins, alawyer supportive of digital assets, the SEC has adjusted its approach tocryptocurrency regulation.
Kraken called the dismissal “a turning point” forthe U.S. cryptocurrency sector. The exchange described the lawsuit aspolitically motivated, arguing that it had hindered innovation and investment.Kraken also thanked the “new leadership” at both the White House andthe SEC for their role in the reversal.
Kraken Resumes Staking Services for US
Kraken has reintroduced on-chainstaking services for US customers, nearly a year after settling with theSEC in February 2023, as reported by FinanceMagnates.
The exchange now offers staking through Kraken Pro in 39states and territories, with 17 assets available, including Ethereum (ETH) andSolana (SOL). This move follows a broader shift in the U.S. regulatorylandscape, as the previous administration’s stringent crypto policies haveloosened, allowing Kraken and others to resume services once curtailed.
This article was written by Tareq Sikder at www.financemagnates.com.
