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U.S. SEC Officially Dismisses Kraken Lawsuit

Kraken recently announced that the U.S. SEC has agreed to dismiss its lawsuit with prejudice, meaning no penalties, changes to operations, or admission of wrongdoing.

Haider Jamal
March 4, 2025

Big Victory For Kraken

The SEC filed charges against Kraken in November 2023 for mishandling customer funds and operating as an unregistered securities broker. Kraken chose to fight the lawsuit, and a federal judge initially supported the SEC’s case.

Source: Kraken’s Official Blog

However, the SEC will now drop the charges after reaching an agreement with Kraken, pending approval from the SEC Commissioners. “This dismissal removes uncertainty and confirms that businesses like Kraken, which prioritize compliance, shouldn’t face arbitrary legal battles,” the company stated.

A Turning Point

Kraken hailed the SEC’s decision as a key moment for U.S. crypto regulation, ending what they called a politically motivated campaign and lifting the uncertainty stifling industry growth and innovation.

Previously, the regulatory agency had investigated companies like OpenSea, Gemini, and Robinhood and continues to probe others, including Ripple.

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Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.