SEC Officially Drops Cases Against Consensys, Kraken, and Cumberland DRW
The United States Securities and Exchange Commission (SEC) has officially dropped its court cases against three leading cryptocurrency firms: Consensys, Kraken, and Cumberland DRW. This significant move, made through litigation releases filed March 27, signals what some consider a change in the regulator’s regulatory strategy.
SEC Ends Legal Actions Against Crypto Firms
In a simultaneous stipulation, the SEC indicated that the move was made pursuant to regulatory recalibration—not based on the merits of the initial charges.
“The Commission’s decision to exercise its discretion and close this pending enforcement action. does not necessarily reflect the Commission’s position in any other case,” the SEC said.
Although this move releases the companies from continuous litigation, the announcement was quick to state that it does not establish a precedent for other crypto-related cases ongoing.
Political Changes Could Be Behind New Policy
The timing of this change is also significant in happening just after Donald Trump’s reelection. Trump has been openly supportive of crypto-friendly policies, which could have been behind the changing attitude of the SEC.
Kraken, sued last November 2023 for alleged securities violations, verified the dismissal of the case on March 3. “Happy to close this chapter now,” wrote Kraken Co-CEO Dave Ripley in an email to X.
Whether or not there would be the dismissal of the remaining pending cases is uncertain, but analysts expect further deregulation in the coming years.
SEC Still Faces Industry Skepticism
While the thrown-out cases are a welcome relief for the involved companies, crypto players remain wary. Confidence, most argue, is far from being restored.
The crypto industry remains to demand clearer regulation, consistent enforcement, and open communication with regulators. Dismissing lawsuits is a start—but continued progress will depend on how the SEC moves forward from here.
If this is the beginning of a more cooperative model, it could be a turning point for U.S. crypto policy.
