On Monday, crypto exchange Kraken announced that the U.S. Securities and Exchange Commission (SEC) had decided to drop its lawsuit against the company, just months after the crypto exchange donated $1 million to President Donald Trump's inaugural committee.

Kraken called the SEC’s decision to drop the case a “turning point for the future of crypto in the U.S.” in a Monday blog post

The SEC has agreed in principle to dismiss its lawsuit against Kraken as the financial regulator prepares for a series of roundtables that should help provide status clarity for cryptocurrencies.