Overview
- Reps. Maxine Waters, Sean Casten, and Brad Sherman sent a Jan. 15–16 letter urging SEC Chair Paul Atkins to restart crypto prosecutions.
- The lawmakers say the SEC has dropped or closed roughly a dozen cases since early 2025, including actions involving Binance, Coinbase, and Kraken.
- They highlight the stayed case against Tron founder Justin Sun, noting his reported investments exceeding $75 million in Trump‑linked crypto ventures during the pause.
- The letter alleges an appearance of pay‑to‑play tied to large industry donations to President Trump and requests preservation and production of SEC communications.
- Atkins’ statement that most tokens are not securities is cited as adding confusion, and the SEC declined to comment as congressional oversight efforts build.