The SEC Drops Lawsuits Against Major Cryptocurrency Companies
The US Securities and Exchange Commission (SEC) has recently taken a more moderate approach under the current administration, backing down from several major cryptocurrency cases initiated during the tenure of former Chairman Gary Gensler.
As a result, the SEC is gradually dropping lawsuits against cryptocurrency companies and closing investigations. This shift in approach is seen as a positive development by many in the cryptocurrency industry.
Leading the charge is SEC member Hester Peirce, who heads the newly formed Crypto Task Force. Peirce has made it her mission to address and resolve the various crypto-related lawsuits that were initiated under the previous administration.
Some of the notable cases that have been dropped by the SEC include lawsuits against Robinhood, Coinbase, ConsenSys, Binance, Tron (TRX), and Kraken. These companies can now breathe a sigh of relief as they no longer face legal action from the SEC.
However, not all crypto companies have been granted immunity from SEC scrutiny. Cases against Ripple, Cumberland, DRW, and Pulsechain are still ongoing. Additionally, investigations into Unicoin, Crypto.com, and Immutable have yet to be concluded.
Of particular interest is the Ripple case, which has been one of the longest-running legal battles in the cryptocurrency industry. Many are eagerly awaiting a resolution in this case following the recent developments with other companies.
Former White House Communications Director Anthony Scaramucci recently made headlines by claiming that the SEC has dropped its lawsuit against Ripple. In a podcast interview with Scott Melker, Scaramucci confidently asserted that Ripple should be added to the list of cases that the SEC has dropped.
Despite Scaramucci’s claim, the SEC has not officially announced any decision regarding the Ripple case. The legal proceedings between Ripple and the SEC are ongoing and are currently being heard in the Court of Appeals.
It is important to note that the information provided in this article is for informational purposes only and should not be considered as investment advice.