The US Securities and Exchange Commission (SEC) has dropped a lawsuit against a crypto exchange. CreakThe lawsuit was withdrawn without admission of guilt, fines or any other sanctions regarding the company’s future operations.
In addition, the regulator will not be able to bring the same charges against you again. Creak, since the case is closed without the right to retrial.
The SEC’s lawsuit, which mischaracterized our consistent business model, was always without merit. This decision confirms what we have always said: that regulators should base their actions on facts, not political objectives,» the company said. Creak.
In November 2023, the Securities and Exchange Commission filed a lawsuit against the crypto exchange. The agency accused the company of operating as an unregistered securities exchange, broker, dealer, and clearing agency. The lawsuit also alleged that Creak mixed customer funds with its own, creating a risk of financial loss for users. The exchange called all these accusations unfair, and the SEC’s approach to the case incorrect.
However, after Donald Trump was re-elected as US President, the Commission’s policy towards crypto companies can hardly be called wrong. In recent weeks, the agency dropped cases against two major crypto industry players, Coinbase and Consensys.
Today’s decision is a step toward a more inclusive financial system in which people, not government, determine their economic future. By embracing cryptocurrency innovation, the U.S. can open new paths to economic prosperity and financial freedom, the statement said. Creak.