SEC Reverses Course, Drops Key Crypto Lawsuits
The U.S. Securities and Exchange Commission has abandoned major enforcement actions against Coinbase, ConsenSys, and others, signaling a shift in its regulatory approach under new leadership.
- The SEC has dismissed lawsuits and investigations against major crypto firms, including Coinbase, ConsenSys, Robinhood, Uniswap Labs, and OpenSea, as part of a broader policy shift.
- This marks a departure from the agency's prior 'regulation by enforcement' strategy under former Chair Gary Gensler, which crypto leaders criticized for stifling innovation.
- The SEC's new leadership, led by Acting Chair Mark Uyeda and Commissioner Hester Peirce, has pledged to develop clearer and more collaborative crypto regulations.
- While secondary marketplaces appear to be in the clear, legal experts caution that the status of individual crypto tokens remains unresolved and could face future scrutiny.
- The crypto industry, which invested heavily in lobbying during the 2024 elections, has welcomed the changes as an opportunity for growth and regulatory clarity in the U.S.
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