SEC Drops Lawsuit Against Cumberland DRW

The U.S. Securities and Exchange Commission (SEC) has announced that it has filed suit against Chicago-based cryptocurrency trading firm Cumberland DRW.
The company said it plans to withdraw the lawsuit it filed against DRW.
On the 4th (local time), Cumberland DRW announced on X that, "Today, we are filing a joint motion with the SEC to dismiss the lawsuit against Cumberland DRW.
Cumberland DRW said it reached an agreement in principle with SEC staff on February 20 and is currently awaiting final SEC approval.
The withdrawal of this lawsuit is one of several that the SEC has recently withdrawn in the cryptocurrency industry.
It previously dropped lawsuits against Kraken and blockchain technology company Consensys.
In addition, Yuga Lab, a representative NFT company,
Labs, OpenSea, and cryptocurrency exchange Gemini
Cumberland DRW announced that it has concluded its investigations into Uniswap Labs and Ethereum, a blockchain-based blockchain company that is “working to create a future where technological innovation and regulatory clarity are in harmony.”
"We look forward to continuing our dialogue with the SEC," he added.