SEC drops enforcement actions against Kraken, Consensys, and Cumberland DRW
WikiBit 2025-03-29 02:52
On Thursday, the US Securities and Exchange Commission (SEC) scrapped its cases against Kraken, Consensys, and Cumberland DRW. The agency filed joint
On Thursday, the US Securities and Exchange Commission (SEC) scrapped its cases against Kraken, Consensys, and Cumberland DRW.
The agency filed joint stipulations with the companies, permanently dismissing the cases with prejudice and precluding any future refiling.
Meanwhile, in June 2024, the SEC sued Consensys for illegally offering securities through its MetaMask staking platform. However, on Feb. 27, the commission voted in principle to drop cases against MetaMask. Subsequently, Consensys founder Joseph Lubin stated that despite having no plans to back down from the lawsuit, they accepted the SEC decision.
The commission originally announced that it would drop its case with Cumberland DRW on March 4. It originally charged the Chicago-based firm in October of 2024, alleging it operated as an unregistered broker by trading $2 billion worth of digital assets.
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