Cryptocurrency exchange Crypto.com announced the closure of the SEC investigation without legal actions. This follows similar dismissals of probes against Kraken, Coinbase, and Ripple.
SEC Eases Pressure on the Industry
Crypto.com had previously filed a lawsuit against the SEC after receiving a 'Wells notice' in October 2024. The lawsuit was withdrawn in December. Since January, the SEC softened its stance, closing cases involving major industry players like Kraken and Coinbase.
Crypto.com’s Goals and New Partnerships
Crypto.com, with over 140 million users globally, is focusing on new projects, including a collaboration with Donald Trump's media company. They signed an agreement to develop ETFs and similar products under the Truth.Fi brand.
Impact of SEC Changes
Recent leadership changes in the SEC, including the departure of former chair Gary Gensler, indicate a shift towards more lenient regulation. Paul Atkins, nominated by Trump for SEC chair, emphasized that creating a regulatory framework for cryptocurrencies is a 'priority goal.'
The closure of the SEC investigation against Crypto.com marks a shift to a more lenient regulatory approach towards the cryptocurrency industry in the US, which may facilitate its further growth.
