The landscape of cryptocurrency regulation in the United States has seen a significant shift under the new Trump administration, with the Securities and Exchange Commission (SEC) taking a more lenient approach towards top crypto companies and protocols. Led by long-time industry advocate Hester Peirce, the SEC’s crypto task force is moving away from what was previously termed as “regulation by enforcement” to engage in more collaborative and less hostile interactions with the crypto industry.
This shift in approach has been reflected in the SEC’s recent actions, with the regulator backing away from contentious battles with several prominent crypto companies. Here are some of the notable pivots, reversals, and exits that have taken place under the Trump administration:
### Binance
The ongoing legal battle between Binance and the SEC saw a temporary pause granted by a U.S. district judge, allowing both parties to reassess the regulatory landscape. The SEC has also ended multiple investigations and lawsuits, indicating a potential resolution in the near future.
### Crypto Rulemaking Case
The SEC voluntarily dropped an appeal in a case related to extending securities laws to decentralized finance (DeFi) applications, marking a significant win for the DeFi community.
### Coinbase
The SEC officially dismissed the lawsuit against leading American crypto exchange Coinbase, signaling a shift in the regulator’s regulatory approach to the crypto industry.
### OpenSea
The SEC ended its investigation into NFT marketplace OpenSea, dropping charges of operating as an unlicensed securities brokerage. The move was welcomed by OpenSea CEO Devin Finzer as a win for innovation in the space.
### Robinhood Crypto
An SEC investigation into Robinhood Crypto concluded with no action taken by the regulator, with the platform’s Chief Legal Officer emphasizing the importance of fairness and the rule of law.
### Uniswap Labs
The SEC ended its investigation into Uniswap Labs without filing any charges, providing a significant victory for the decentralized exchange and the broader DeFi ecosystem.
### Gemini Trust
After a two-year investigation into the unregistered sale of securities, Gemini Trust saw the case closed without enforcement action. Co-founder Cameron Winklevoss highlighted the impact of the SEC’s actions on the industry.
### Justin Sun/Tron
Justin Sun and Tron filed a joint motion with the SEC to temporarily stay the case, reflecting a collaborative approach to resolving the allegations against them.
These are just a few examples of the recent shifts in the SEC’s approach to crypto regulation under the Trump administration. As the regulatory landscape continues to evolve, these developments signal a more constructive and collaborative relationship between the SEC and the crypto industry.