DRW Says SEC to Drop Lawsuit Against Cumberland Crypto Unit

DRW Holdings LLC said that the US Securities and Exchange Commission has agreed to drop a lawsuit against the proprietary trading giant’s crypto arm, the latest dismissal of legal actions and investigations against digital-asset companies by the market regulator.

“Today we signed a joint filing to be made with the Securities and Exchange Commission dismissing its case against Cumberland DRW,” a DRW spokeswoman wrote in an email. The agreement is pending Commission approval. A SEC spokesperson didn’t immediately respond to a request for comment.

The decision marks the latest retreat from the policies of former SEC Chair Gary Gensler, who ...