SEC Drops Major Crypto Cases, Signaling Shift in Regulatory Approach

The U.S. Securities and Exchange Commission has dismissed lawsuits against Coinbase and ConsenSys, reflecting a broader retreat from its previous enforcement tactics under new leadership.

The SEC has officially dismissed its lawsuit against Coinbase, which had accused the exchange of operating an unregistered securities platform and running an unregistered staking program.
ConsenSys, the developer of the MetaMask wallet, announced that the SEC plans to dismiss its lawsuit alleging the company acted as an unregistered securities broker.
These dismissals are part of a broader shift in the SEC's approach to crypto regulation under Acting Chair Mark Uyeda, who has prioritized industry collaboration over enforcement actions.
The SEC's recent leadership changes, including the departure of former Chair Gary Gensler, have led to the establishment of a pro-crypto task force headed by Commissioner Hester Peirce.
While lawsuits against other crypto firms, such as Binance and Tron, have been paused, Congress is now expected to provide clarity on key unresolved questions about crypto regulation.