One of the positive outcomes of Trump’s presidency has been the change in stance by the SEC regarding cryptocurrencies. This shift contrasts sharply with Gensler’s previous approach and signifies a potential end to the legal pressures on the cryptocurrency markets. Such a change is expected to support the growth of the market in the medium to long term, as evidenced by the recent dismissal of three lawsuits.
Crypto Lawsuits Dropped
The SEC has officially announced the dismissal of lawsuits against Kraken, Consensys, and Cumberland. Gensler had accused these companies of operating without proper registration, viewing nearly all cryptocurrencies as securities. During those challenging times, the lack of clear guidance for companies seeking registration forced many to exit the United States, which was a key reason for Ripple 
$1 and others to strengthen their ties with the UAE.
Recently, the SEC made announcements regarding the dismissal of the lawsuits. The overall detail of the announcement was consistent, stating:
“The Securities and Exchange Commission today entered into a joint agreement to dismiss the ongoing civil enforcement case against Payward Inc. and Payward Ventures Inc., also known as Kraken, without prejudice.”
The decision to dismiss the case does not reflect any evaluation of the merits of the claims presented but is based on the belief that this dismissal will facilitate the SEC’s efforts to reform and renew its regulatory approach to the crypto sector. Additionally, as noted in the joint agreement, “The SEC’s decision to request the dismissal of this case does not have to reflect the Commission’s position on any other case.”
Crypto regulatory meetings will continue until June, and the SEC aims to implement necessary regulations that meet the sector’s needs without prolonging the process.
