The SEC dismissed lawsuits against Kraken, Consensys, and Cumberland, reflecting a shift toward a less enforcement-heavy approach to regulating the crypto industry under the new administration.
Kraken was accused of operating as an unregistered securities exchange and offering unregistered securities, with the case against it now dismissed with prejudice.
Consensys and Cumberland faced allegations related to unregistered activities; the SEC’s dismissals signal evolving priorities and a reevaluation of its regulatory strategy.
The dismissals indicate the SEC's intention to reform and renew its regulatory approach to the crypto industry, fostering innovation while ensuring investor protection.