The SEC has concluded its investigation into cryptocurrency exchange Crypto.com without taking any enforcement action, reflecting changes in the regulatory approach to the crypto industry.
Investigation Details
Crypto.com announced the conclusion of the SEC investigation on March 27th. The SEC had previously issued a Wells notice, and in October 2024, Crypto.com filed a lawsuit against the agency, which was dismissed in December.
Crypto.com Leadership's Reaction
Crypto.com’s Chief Legal Officer Nick Lundgren expressed satisfaction with the closure of the investigation without enforcement action or settlement. Quoting him, "We are pleased that the current SEC leadership has made the decision to close its investigation into Crypto.com with no enforcement action or settlement." Crypto.com CEO Kris Marszalek described the previous administration's actions as a "war on crypto."
Changes in SEC Regulation
The decision to close the investigation aligns with a shift in regulatory approach under acting Chair Mark Uyeda. The SEC has dropped lawsuits against several other crypto entities and has established a Crypto Task Force led by Commissioner Hester Peirce.
The SEC's decision to refrain from action against Crypto.com highlights a shift in the agency's regulatory policy towards the crypto industry.
