Kraken, one of the world's largest cryptocurrency exchanges, said on Monday the U.S. Securities and Exchange Commission agreed in principle to dismiss a civil lawsuit accusing it of operating illegally as an unregistered securities exchange.

In a major development for the cryptocurrency industry, the U.S. Securities and Exchange Commission (SEC) has agreed to dismiss its lawsuit against Kraken, one

The SEC has dismissed or paused several crypto-related cases in recent weeks, which Kraken sees as a “turning point” for U.S. crypto regulation.