Was the war of the dry against the cryptocurrency sector ended with a surrender?
Like Bloomberg News reported Friday February 28), the Securities and Exchange Commission (SEC) A in the last month Rejected or interrupted at least eight cases against cryptographic companies, including some of the most publicized names in the industry.
Which includes consecutive proceedings against Jamming And Binanceas well as possible threats of action against companies such as Robinhood.
“This is a multiple facet demolition of the most successful law application program in history,” a lawyer who has become a consultant John Reed.
Since President Donald Trump took up his duties, said Stark, the regulator’s position was:
“We are going to climb a stopping shouting all aspects of the dry cryptography application program in a way that is not only unprecedented and unusual, it is beyond the imagination.”
However, others say that the Trump administration approach to the crypto was a welcome change in relation to the more aggressive vision of the Biden White House on industry.
“It seemed that dry on a whim could wake up on the wrong side of the bed and decide to introduce application measurements or to deposit A well opinion, or assignment to appear for more information. This fear seems to have disappeared, in particular in the light of these layoffs, “said Cathy Yoon, general lawyer of Wormhole Foundation, an organization that supports the development of blockchain.
By announcing the dismissal of his case Against Coinbase last week, the SEC said that this decision was part of an effort to reform its regulatory approach to cryptographic industrywhich understand Its creation of A crypto working group for find A regulatory framework for cryptographic assets.
“In recent years, the opinions of the crypto commission have been widely expressed through implementing measures without engaging the general public,” said the acting president of the SEC, Mark T. Uyeda, in a press release.
“It is time for the commission to rectify its approach and to develop a cryptographic policy more transparent. The Crypto working group is designed To do exactly that.
Dry Coinbase pursued in June 2023, alleging that the exchange had violated the titles laws, And that his business “intertwines the traditional services of an exchange, a broker and a compensation agency” without registering these functions with the SEC, such as the required law.
The agency has as recently Replaced his Crypto division with a newAnd smaller, Cyber and emerging technology unit,, devoted to survey A range of Problems beyond digital assets.
