TLDR
- SEC finished its inquiry on Crypto.com, deciding against any legal measures.
- Crypto.com had previously been alerted by a Wells Notice and had initiated a legal battle against the SEC in October 2024.
- Post Trump’s electoral win, the platform dropped its lawsuit in December.
- Unlike other crypto giants, Crypto.com hasn't faced SEC litigation or settlements.
- Mark Uyeda's interim leadership at the SEC sees the withdrawal of multiple crypto-related lawsuits.
The SEC officially wraps up its Crypto.com investigation without legal repercussions, indicating a pivotal change for US crypto firms.
On March 27, 2025, Crypto.com revealed in a blog post that the earlier Wells Notice from the SEC wasn't followed by enforcement.
In light of the Wells Warning, Crypto.com took the SEC to court in October 2024, arguing overreach in treating crypto tokens as securities.
The legal clash fizzled out by December 2024, influenced by a broader regulatory shift post Trump's win.
Nick Lundgren of Crypto.com lauded the SEC's choice not to pursue any actions, appreciating the change in leadership.
Criticizing prior policies, Lundgren accused the former SEC of misusing regulatory powers against cryptocurrencies.
A New Chapter in Crypto Regulation
CEO Kris Marszalek echoed these views, calling past policies a 'cryptocurrency conflict' on social media on March 28.
Marszalek suggested earlier efforts aimed to stifle industry expansion by limiting key financial avenues.
The SEC’s investigation into https://t.co/pFc4Pz9nFR Finally, the investigation concluded without targeting any actions against. https://t.co/pFc4Pz9nFR .
— Kris Crypto.com (@kris) March 27, 2025
Crypto.com remains unmatched as the only large crypto exchange bypassing SEC disputes, highlighting its dedication to legal compliance.
With over 100 regulatory clearances globally, including US state licenses, Crypto.com sets a compliance benchmark.
Key US agencies like FinCEN, CFTC, and FINRA recognize Crypto.com’s regulatory efforts with required registrations.
Mark Uyeda's leadership shift corresponds with the SEC's recent withdrawal of cases against several notable crypto businesses.
Companies like OpenSea, Uniswap, and Coinbase witness similar regulatory relaxations, suggesting a friendlier crypto business atmosphere.
The SEC's Crypto Task Force, led by Hester Peirce, plans upcoming public discussions on regulatory matters.
Nominee Paul Atkins, poised for SEC Chair with substantial crypto holdings, marks a potential new direction.
Seeing future regulatory changes, Lundgren anticipates collaborating with new leadership for clear legal frameworks.
