Today marks a pivotal moment for Kraken. The SEC staff has agreed in principle to dismiss its lawsuit against Kraken with prejudice, with no admission of wrongdoing, no penalties paid and no changes to our business.
The SEC’s decision to dismiss its lawsuit against us (and many others) is more than just a legal victory — it’s a turning point for the future of crypto in the U.S. It ends a wasteful, politically motivated campaign, lifts uncertainty that stifled innovation and investment, and clears the path toward a stable, forward-thinking regulatory regime.
We appreciate the new leadership both at the White House and the Commission that led to this change. Their bold and thoughtful leadership will lead to a new era of U.S. crypto innovation.
The end of a politically motivated campaign
Since our inception, Kraken has operated with integrity and dedication to doing the right thing. The SEC’s lawsuit, which mischaracterized our consistent business model, was always without merit. This dismissal confirms what we’ve said all along: Regulatory actions must be based on facts, not political agendas.
This case was never about protecting investors — it and other enforcement actions clouded instead of clarified. It undermined a nascent industry that repeatedly urged clear rules of the road.
Instead of engaging in that hard but necessary work, prior leadership at the SEC and throughout the government took a regulation-by-enforcement approach that stifled progress and disadvantaged the U.S. against other countries who fostered innovation through fair and transparent digital asset regulatory regimes.
Ready to unleash innovation and investment
This dismissal lifts that cloud of uncertainty. It reaffirms that businesses like Kraken, which prioritize compliance and consumer protection, should not be subject to arbitrary legal battles.
A stable, predictable regulatory framework will encourage responsible growth, attract investment and ensure the U.S. remains competitive in the global digital asset economy.
Strengthening economic opportunity for Americans
Crypto is more than just technology — it’s a pathway to financial empowerment. Millions of Americans rely on Kraken to access digital assets and take control of their financial journeys. Regulatory overreach doesn’t just harm businesses; it limits opportunities for everyday people looking for alternative financial tools.
Today’s decision is a step toward a more inclusive financial system — one where individuals, not government overreach, shape their own economic futures. By embracing crypto innovation, the U.S. can unlock new avenues for economic prosperity and financial freedom.
Charting a path toward clearer regulations
While today’s decision is a major victory, it also serves as a call to action for clearer, more forward-thinking regulatory policies. Kraken remains committed to working alongside policymakers and regulators to establish guidelines that protect consumers while fostering technological progress.
We are pleased that leadership in Congress and Commissioner Peirce’s Crypto Task Force are taking up this difficult, mandatory work to put in place real, forward-thinking legislation and regulation. These steps will ensure that we never return to regulation by enforcement.
On with the mission: Accelerating the adoption of crypto
As we close this chapter, Kraken reaffirms its commitment to pioneering a future where innovation and responsible regulation go hand in hand. We will continue to engage with industry stakeholders and regulatory bodies to promote clarity, fairness and progress in digital finance, while continuing to protect the right to freedom and privacy on behalf of our clients.
Our journey is far from over. The path ahead is one of continued innovation, strategic collaboration and unwavering dedication to building a more inclusive financial future.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are unregulated; regardless, Kraken may or may not be required to be registered or otherwise authorised to provide specific products and services in each market, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply. See Legal Disclosures for each jurisdiction here.
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