The SEC dropped the lawsuit against Kraken Exchange, which was accused of illegal activity as an unregistered exchange, marking an important step for the cryptocurrency industry

Kraken Exchange announced that the SEC agreed to drop the lawsuit accusing the company of operating illegally as an unregistered exchange. In the statement, Kraken emphasized that this decision is important for the cryptocurrency industry and ends a "politically motivated campaign" that had limited innovation. The exchange noted that the dismissal of the lawsuit does not include an admission of guilt or fines, and this decision is final. The SEC had accused Kraken of violating the law since 2018, but the company continued to insist that cryptocurrencies are not subject to regulation as securities.