SEC concludes case against Kraken exchange without admission of wrongdoing. Learn more about the resolution and its implications.
The U.S. Securities and Exchange Commission (SEC) has agreed to close the case against the digital currency exchange Kraken. According to Kraken’s statement, the case will be closed with prejudice, preventing SEC from filing similar claims again. It is noteworthy that this resolution does not require Kraken to admit any wrongdoing, pay fines, or change its business operations. Kraken stated, ‘SEC’s complaint misinterpreted our sustainable business model from the beginning and lacked legal basis. Dismissal of this case validates our longstanding claim: regulatory actions should be based on solid facts, not political motives.’ In November 2023, SEC accused Kraken of engaging in unlawful activities.
