The Securities and Exchange Commission has continued its retreat from regulation by enforcement regarding digital asset firms by ceasing its enforcement action against crypto exchange Kraken.
Also known as Payward and Payward Ventures, the Commission said the case was dismissed with prejudice, which means permanently.
The SEC stated:
“The Commission’s decision to exercise its discretion and dismiss this pending enforcement action rests on its judgment that the dismissal will facilitate the Commission’s ongoing efforts to reform and renew its regulatory approach to the crypto industry, not on any assessment of the merits of the claims alleged in the action. Furthermore, as stated in the joint stipulation, “the Commission’s decision to seek dismissal of this Litigation does not necessarily reflect the Commission’s position on any other case.”