The U.S. Securities and Exchange Commission (SEC) has shifted its strategy on cases against major crypto companies such as Coinbase and Binance, as well as OpenSea, suggesting a softening of regulatory stance.
Halting Cases Against Coinbase and Binance
Significant developments include the dismissal of the case against Coinbase and halting of the proceedings against Binance. The SEC also dropped the case against the NFT platform OpenSea. However, cases against Kraken Exchange, Uniswap, and Robinhood continue with Wells notices already issued.
Ripple Case and SEC’s Future Plans
The market is awaiting the conclusion of the Ripple case, which might take more time. It is speculated that the SEC may pause certain aspects of the case and reconsider its cryptocurrency policies. Changes in the SEC's enforcement team suggest a more balanced approach to regulation.
Expert Reflections on SEC Strategies
Attorney Jeremy Hogan suggests that pausing some parts of the Ripple case, like not appealing, could indicate an intention to conclude it soon. Former SEC lawyer Marc Fagel mentioned that if the SEC drops its appeal while Ripple proceeds with its cross-appeal, it would be a legal error. Fagel believes a settlement adjusting to summary judgment terms is the likely outcome.
Changes in SEC strategy and halting of cases against key crypto firms may positively impact the market by removing uncertainty and paving the way for clearer regulation. The upcoming weeks might bring additional news concerning cryptocurrency market regulation.
