Winning for fairness

Today is a vital moment for Kraken. SEC staff agreed to dismiss the case against Kraken on prejudice, not admitting fraud, paying fines, and making changes to our business.

The SEC’s decision to dismiss a lawsuit against the United States (and many others) is more than just a legal victory. This is a turning point for the future of US crypto, ending a useless, politically motivated campaign, increasing uncertainty to curb innovation and investment, and clearing the path to a stable, moving forward regulatory regime.

We are grateful for both the White House’s new leadership and the committee that led to this change. Their bold and thoughtful leadership leads to a new era of crypto innovation.

The end of a politically motivated campaign

Since our founding, Kraken has been working with integrity and dedication to doing the right thing. The SEC lawsuit that mischaracterized our consistent business model has always been unbeneficial. This termination confirms what we’ve been saying all along. Regulatory measures should be based on facts rather than political agenda.

This case was not about protecting investors. And instead of making it clear, other enforcement measures are clouded. It undermined early industries that repeatedly urged clear road rules.

Instead of engaging in advance leadership across the SEC and government, previous leadership across the government took a regulatory-by-regulation approach that thwarted progress and put the United States at a disadvantage, against other countries that promote innovation through a fair and transparent digital asset regulation regime.

Ready to unleash innovation and investment

This rejection lifts that cloud of uncertainty. Companies like Kraken, which prioritize compliance and consumer protection, reaffirm that they should not be subject to arbitrary legal combat.

A stable, predictable regulatory framework promotes responsible growth, attracts investment and ensures that the US remains competitive in the global digital asset economy.

Enhance economic opportunities for Americans

Crypto is more than just technology, it’s the path to financial empowerment. Millions of Americans rely on Kraken to access digital assets and manage their financial journeys. Regulatory overreach is not just harmful to your business. Limit opportunities for everyday people looking for alternative financial tools.

Today’s decision is a step towards a more comprehensive financial system. Individuals whose governments don’t go too far will shape their economic future. By embracing crypto innovation, the United States can unlock new paths for economic prosperity and economic freedom.

Drawings of paths to clearer regulations

Today’s decision is a big victory, but it also serves as a call to action for clearer and more advanced regulatory policies. Kraken remains committed to working with policymakers and regulators to establish guidelines that protect consumers while promoting technological advancements.

We are pleased that the Congress leader and Commissioner Perth’s Cryptographic Task Force is taking up this challenging and essential work to implement real-world, advanced laws and regulations. These steps should not be reverted to regulations through enforcement.

With mission: accelerate the adoption of crypto

When closing this chapter, Kraken reaffirms its commitment to ahead of the future, where innovation and responsible regulations are closely linked. We will continue to engage with industry stakeholders and regulatory bodies to promote clarity, equity and progress in digital finance, while continuing to protect our rights of freedom and privacy on behalf of our clients.

Our journey is far from over. The path ahead is one of continuous 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 recommendations or solicitations to purchase, sell, bet or hold CryptoAssets or engage in any particular trading strategy. Kraken does not work to raise or lower the prices of certain CryptoAssets that become available. Some crypto products and markets are regulated, while others are not regulated. Anyway, Kraken may or may not need to be registered or permitted to provide specific products and services in each market. It may also not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the CryptoAsset market can lead to losses of funds. Taxes may be paid for returns and/or increased value of crypto assets, and you must seek independent advice on your tax position. Geographical restrictions may apply. Please see this legal disclosure by jurisdiction.