Kraken Is Latest Crypto Firm to Say SEC Agrees to Drop Lawsuit

Kraken said the US Securities and Exchange Commission has agreed in principle to drop its lawsuit against the cryptocurrency exchange, the latest in a series of dismissals of legal actions against crypto companies by the market regulator.

There will be no admission of wrongdoing, no penalties paid and no changes to the business, Kraken said in a blog post Monday. A spokesperson for the SEC declined to comment.

In the last month alone, the securities watchdog has dismissed or paused at least nine cases against crypto companies, including those that targeted some of the sector’s most prominent faces. The running ...