The U.S. Securities and Exchange Commission (SEC) has agreed to dismiss its lawsuit against Cumberland DRW, the cryptocurrency trading division of Chicago-based trading firm DRW Holdings LLC.

Background:

In October 2024, the SEC filed a lawsuit alleging that Cumberland operated as an unregistered securities dealer, handling over $2 billion in crypto assets, including tokens such as Polygon (POL), Solana (SOL), Cosmos (ATOM), Algorand (ALGO), and Filecoin (FIL).

Recent Developments:

On March 4, 2025, Cumberland announced via its official X account that it had signed a joint filing with the SEC to dismiss the case. This agreement, reached in principle on February 20, is pending final approval from the Commission.

Cumberland expressed its commitment to collaborating with the SEC to harmonize technological advancements with regulatory clarity, aiming to maintain the U.S.'s leadership in global financial innovation.

Broader Context:

This development is part of a series of recent SEC actions, where the agency has moved to dismiss or settle enforcement cases against several cryptocurrency firms, including Coinbase, Kraken, and ConsenSys.

The dismissal of the lawsuit against Cumberland DRW reflects a potential shift in the SEC's regulatory approach under the current administration, emphasizing collaboration and clarity in the rapidly evolving cryptocurrency industry.