The U.S. Securities and Exchange Commission (SEC) has officially concluded its investigations into the companies Kraken, Consensys, and Cumberland DRW. The regulator announced that on March 27, joint agreements were reached with these companies, which involve the dismissal of existing civil lawsuits.
This is reported by Business • Media
The SEC explained that the decision to close the case is based on the commission’s belief that such a decision could support ongoing efforts to reform and enhance the regulatory approach to the crypto industry. At the same time, it was noted that this decision does not constitute an assessment of the validity of the claims made.
“The Commission’s decision to exercise its discretion and close this ongoing enforcement action is based on its belief that such closure will aid the Commission’s current efforts to reform and update its regulatory approach to the crypto industry, rather than an assessment of the validity of the claims made in this case.”
The Commission also emphasized that the closure of the litigation does not reflect a position regarding any other case. It is worth noting that the SEC previously accused Cumberland DRW of operating as an unregistered dealer in crypto assets exceeding $2 billion, Consensys of illegally selling securities through MetaMask Staking, and Kraken of operating as an unregistered exchange, broker, dealer, and clearing agency.
Earlier, the SEC also closed the case against Immutable, without providing explanations for the reasons behind that decision.