PANews reported on March 3 that according to Kraken’s announcement, the U.S. Securities and Exchange Commission (SEC) has agreed to withdraw its lawsuit against Kraken, without having to pay a fine or admitting any violations, and Kraken’s business model will not be affected. Kraken said that this withdrawal of the lawsuit is not only a legal victory for the company, but also a key turning point for the U.S. crypto industry to move towards fair regulation.

Kraken criticized the SEC's previous "regulation is enforcement" strategy, saying it hindered innovation and investment and put the United States at a disadvantage in the global crypto market competition. The company thanked the White House and the new SEC leadership for promoting this change, and said it would continue to support Congress and the "Crypto Task Force" led by SEC Commissioner Hester Peirce to promote a clear digital asset regulatory framework.

Kraken believes that a stable and predictable regulatory system will help attract investment, promote industry growth, and maintain the competitiveness of the United States in the global digital asset economy. The company reiterated that it will continue to promote innovation while protecting consumer rights and working with regulators to ensure that the "regulation is enforcement" model no longer occurs in the future.