SEC regime change: Almost all lawsuits against crypto companies dropped
Since the regime change in the US stock exchange supervision SEC, the authority has been complaining against crypto companies every week. Investigations against crypto base such as coinbase, binance, octopus and robinhood, but also decentralized projects such as Uniswap resigns. The Ripple vs. SEC case has continued.
During the bid administration, the former investment banker Gary Gensler led the Sec. Under his leadership, complaints thundered against crypto projects from all areas. The SEC 100 crypto -specific enforcement measures started in a real kamikan attack – mostly without a legal basis. Most of the affected companies were serious actors in the area, which is why the strategy Even within the authority came to a strong headwind. And none of the measures prevented the devastating collapse of Earth / luna, Blockfi, Celsius or FTX. With Trump's change of direction, the approach of the authority turned radically. This is followed by an overview of all complaints that the SEC has laid to the files since the provisional chairman Mark Uyeda started.
SEC vs. Coinbase
Coinbase, the largest US crypto tour, has been committed to clearer crypto regulations for years. After months back and forth, the agency answered in March 2023 with the announcement of an enforcement measure – also known as “Wells Notice”. With a Wells Notice, SEC employees share a company that they recommend the supervisory authority to initiate enforcement measures due to possible violations of the securities laws. It is not a formal indictment or legal proceedings, but usually leads to this. The authority's Wells Notice questioned almost all coinbase services. Specific tradable cryptocurrencies such as Solana, Coinbase Earn (Staking), Coinbase Prime and the Coinbase Wallet classified the authority as “non-registered securities”.
Almost two years later, on February 27th, quit The second is the setting of the procedure against Coinbase. The new one was for the decision Crypto working group of SEC Commissioner Hester Peirce responsible.
Sec vs. Binance, Kraken, Gemini and Robinhood
With the precedent coin base, the Sec set all other lawsuits against crypto exchanges. Among the companies concerned were the Global leading crypto binancethe traditional broker Robinhood as well as the two US exchanges tok and Gemini. The decentralized stock exchanges Uniswap and OpenSea were also freed from their complaints. All that remains is the court trial against the now insolvent crypto tour Bittrex. Other complaints that the SEC set up was against:
- Justin Sun, founder of the tron blockchain
- Yuga LabsCreator of the once successful NFT collection Bored Ape Yacht Club (BAYC)
- Consensys, developers of the EthereumWallet Metamask
Sec vs. Ripple remains open
So far, one of the most important complaints continues. Since December 2020, the SEC and Ripple, the editors of the cryptocurrency XRP, have been involved in a legal proceedings. The authority accused Ripple of having sold a non-registered security to US investors. Two and a half years later, the US district judge Analisa Torres issued a pioneering judgmentaccording to which XRP is not inherently a security if it is sold to small investors on public exchanges. However, she also found that Ripple's institutional sales were not registered securities offers. Torres imposed on this a fine of $ 125 millionfar less than the $ 1.3 billion that the SEC originally demanded.
In October 2024, however, the SEC announced that the decision of judge Torres vocation announced. The decision of the court in relation to the XRP sales of Ripple on platforms for digital assets, personal sales of managers and other XRP distributions was challenged. Since the SEC is now withdrawing from almost all crypto implementation measures, the Ripple case may be about to graduate. Finally called Trump the cryptocurrency XRP, especially as a candidate for the strategic crypto reserve.
