The S.E.C. Was Tough on Crypto. It Pulled Back After Trump Returned to Office.
The New York Times • • business
Key Points:
- The Securities and Exchange Commission (SEC) significantly eased its enforcement actions against the cryptocurrency industry during President Donald Trump's second term, including freezing lawsuits and reducing penalties.
- The SEC paused a federal lawsuit against the Winklevoss twins' crypto firm and dropped its case against Binance, the world's largest crypto exchange, under the new administration.
- In the ongoing legal battle with Ripple Labs, the SEC sought to reduce a court-ordered penalty, signaling a softer approach toward crypto firms.
- A New York Times investigation revealed that the SEC eased up on more than 60 percent of crypto-related cases active when Trump returned to office, a highly unusual retreat for the agency.
- The rate of SEC case dismissals for crypto firms was significantly higher
