The SEC has rolled back the aggressive crypto enforcement campaigns that defined Gensler’s era.
Following a six-hundred-ninety-day probe of Gemini Trust by the regulatory body, it informed the exchange that they would not be pursuing enforcement actions. The investigation was conducted against co-founder Cameron Winklevoss. You can claim your right to claim Cost "tens of millions … in legal bills."
Winklevoss said it was part of an overall shift and cited the SEC’s decision to withdraw cases against Coinbase. OpenSeaRobinhood is a fictional character. UniSwapBut criticized that the agency had caused significant economic and financial harm to crypto.
Winklevoss claimed that SEC actions had stifled the innovation of the industry and driven talent out.
He called for reforms that included financial reimbursements to companies for fighting baseless enforcement measures, firing public SEC officials who were involved in his description of regulatory overreach as well as lifetime bans against those responsible. "weaponize" The law.
The Minister warned that similar crackdowns would continue without accountability and encouraged the industry to press for structural reforms in order to avoid future regulatory overreach.
Justin Sun
It is also possible to do both at the same time. SEC filings Joint motion The company has asked for a break in the case it is pursuing against Justin Sun of Tron Foundation to allow them time to examine their options. "potential resolution."
"A stay is in the Court's and the public's interest because a resolution would conserve judicial resources," A Wednesday filing on the Sun case confirms this.
Sun’s representatives didn’t immediately reply to our request for comment.
The motion filed on Thursday is similar to those that were dropped or suspended by the SEC in the last week. Binance, CoinbaseThen, Robinhood Each citing their efforts towards case resolution.
The SEC sued Sun in March 2023, alleging his companies conducted over 600,000 wash trades to artificially inflate the TRX token's volume, along with fraud and unregistered securities violations.
Tron’s creator was accused by the SEC of creating false and misleading impressions about trading volumes to make TRX more easily sold. As a result, $32 million of TRX proceeds were generated from the allegedly non-registered sales and offers of cryptocurrency.
Sun has been appointed as an adviser at the firm. Sun recently bought $30 million worth of tokens, from World Liberty Financial, a Trump-affiliated company.
These developments align with President Trump's stated ambition to position the United States as a global crypto hub, nominating and appointing "crypto-friendly" His administration has appointed public servants.
After years of what some have referred to as a “disorderly” regulatory environment, industry participants see these changes as the start of a major realignment. "regulation by enforcement" The previous SEC leaders.
Sebastian Sinclair edited the book
