Cumberland DRW has announced that the Securities and Exchange Commission agreed to dismiss its lawsuit against the firm.

Writing on X on Tuesday, the Chicago-based crypto trading firm said the case will be scrapped pending final SEC approval.

The SEC last year sued Cumberland for various securities charges, alleging the firm operated as an unregistered dealer in handling more than $2 billion worth of cryptocurrencies. The SEC named assets like Solana and Polygon in the complaint.

This is a breaking news story and will be updated. 

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