The U.S. Securities and Exchange Commission (SEC) has recently dismissed multiple lawsuits against top cryptocurrency firms, signaling a change in its regulatory strategy. The cases against exchanges like Coinbase and Kraken, as well as other prominent names in crypto such as Gemini and ConsenSys, have been dropped. This new approach by the SEC aims to support innovation in the crypto space, but there are concerns that it may reduce oversight and lead to unchecked risks.
Former SEC lawyer Marc Fagel explained that cases that have been dismissed “with prejudice” cannot be reopened. While investigations that haven’t become lawsuits could potentially be reopened, it is unlikely due to statute of limitations issues. Fagel also noted that the current administration seems focused on giving crypto more freedom, so it may take some time before any new actions are taken. However, investors may face significant losses in the meantime.
President Trump has shown strong support for cryptocurrency and aims to make the U.S. a leader in digital assets. He has signed an order to promote digital asset growth and created a group to propose new rules. In a recent announcement, he hinted at adding cryptocurrencies like Bitcoin, Ether, XRP, Solana, and Cardano to a national reserve. The White House is also hosting its first crypto summit on March 7, where industry leaders will discuss policies and regulations.
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