The SEC has officially closed its investigation into Crypto.com with no charges filed, seven months after issuing a Wells notice
The U.S. Securities and Exchange Commission (SEC) has officially ended its investigation into Crypto.com without pursuing enforcement action, the company announced on Thursday.
The probe, which began in August 2024 over concerns that the company was operating as an unregistered exchange, has now been formally dropped.
Nick Lundgren, Crypto.com’s chief legal officer, expressed his excitement about the announcement, stating, “We are pleased that the current SEC leadership has made the decision to close its investigation into Crypto.com with no enforcement action or settlement.”
The company’s CEO, Kris Marszalek also announced the development on X thread on March 27, describing the SEC’s investigation as an effort to “stifle” the industry by restricting access to essential services like banking, auditing, and investment.
In the same thread, he emphasized the company’s resilience throughout the investigation, arguing that this is “a testament” to its long-term vision and community support.
New SEC leadership and legal wins are reshaping crypto oversight
The closure of the Crypto.com probe reflects a larger shift in the SEC’s approach to crypto oversight under new acting chair Mark Uyeda, who replaced Gensler in January.
Uyeda has launched SEC Crypto 2.0, a task force led by crypto advocate Hester Peirce, aimed at establishing clearer, more collaborative regulation of digital assets.
Adding to the momentum for reform, On February 17, Elon Musk’s Department of Government Efficiency (D.O.G.E.) launched a public investigation into alleged “fraud and abuse” within the agency.
This climate of regulatory change has already produced results. Earlier this month, the SEC officially dropped its multi-year legal battle with Ripple.
The firm’s CEO Brad Garlinghouse called it a “long-overdue victory” and criticized the SEC’s actions during the lawsuit, claiming there were “no victims” and that the agency “was not acting in good faith”.
Taken together, recent developments signal a broader turning point in U.S. crypto regulation, with the potential to shift from aggressive enforcement toward a more transparent and collaborative approach.
-overdue victory” and criticized the SEC’s actions during the lawsuit, claiming there were “no victims” and that the agency “was not acting in good faith.”
Taken together, recent developments signal a broader turning point in U.S. crypto regulation, with the potential to shift from aggressive enforcement toward a more transparent and collaborative approach.
