Overview
- Reps. Maxine Waters, Brad Sherman, and Sean Casten sent a Jan. 15 letter urging Chair Paul Atkins to restore crypto enforcement and clarify the agency’s posture.
- Lawmakers say the SEC has dropped or closed at least a dozen cases since early 2025, including actions involving Binance, Coinbase, and Kraken, with the Zcash Foundation case closed this week.
- They argue the pullback coincides with intensive industry lobbying and sizable contributions to President Trump and his associates, creating a pay‑to‑play appearance; the SEC declined to comment.
- The letter spotlights the paused lawsuit against Justin Sun and urges lifting the stay or securing a settlement, noting Sun’s investments, including roughly $75 million in Trump‑linked World Liberty Financial.
- Members request documents on enforcement decisions and possible political or foreign influence, raise concerns about Sun’s reported PRC ties, and fault Atkins’ statement that most tokens are not securities as confusing, as a market‑structure bill stalls.