The US Securities and Exchange Commission (SEC) has finalized some of its legal cases against major crypto companies. This includes dropping the Kraken case and halting investigations against Yuga Labs. The SEC case against Kraken in November 2023, alleging unauthorized operation as an unregistered securities exchange, was dismissed. Kraken denied the accusation, stating that the SEC had not provided clear guidelines on digital asset classification. Ultimately, the SEC dropped the case, which Kraken believes could boost market confidence and aid innovation and investment in the crypto space. Meanwhile, Yuga Labs, the creator of popular NFT collections like Bored Ape Yacht Club and CryptoPunks, announced that the SEC has stopped its investigations into the company, which began in 2022 to examine the legal status of NFTs. Last week, the SEC also halted investigations into companies like Robinhood, Tron Foundation, OpenSea, Gemini Exchange, and MetaMask, following pressure from lawmakers and market participants to reduce SEC’s opaque strictness. However, the Ripple (XRP) case remains open. Yet, with recent statements by Donald Trump suggesting adding XRP to the US crypto strategic reserves, many market participants expect this case to be closed soon. Visit the digital currencies’ live price page to monitor token and cryptocurrency prices in real-time.
