The US Securities and Exchange Commission (SEC), which has taken a more moderate approach with the Donald Trump administration, has backed down from the majority of major cryptocurrency cases initiated under its former Chairman Gary Gensler.
Accordingly, the new SEC administration is dropping lawsuits against cryptocurrency companies one by one and closing investigations.
At this point, SEC member Hester Peirce, who leads the SEC’s newly formed Crypto Task Force, has made good on her promise to “rescue” the SEC from various crypto-related lawsuits. The SEC has dropped its lawsuits against Robinhood, Coinbase, and ConsenSys, while suspending its lawsuits against Binance and Tron (TRX).
Finally, the SEC also dropped its lawsuit against cryptocurrency exchange Kraken.
But not all companies are immune from the threat of SEC lawsuits. Cases filed against crypto companies under Gensler are ongoing, including Ripple, Cumberland, DRW and Pulsechain. In addition, investigations into Unicoin, Crypto.com and Immutable have yet to be closed.
The cryptocurrency industry is waiting for the longest-running Ripple case to be closed after the Binance, Tron (TRX), Coinbase and Kraken cases.
While the days are counting down for good news in the Ripple case, former White House Communications Director Anthony Scaramucci claimed that the SEC has dropped its lawsuit against Ripple.
Scaramucci made his bold claim regarding Ripple-SEC in a recent podcast with Scott Melker.
During the interview, Scaramucci went on to list some of the cases that MelkerSEC had dropped, and interjected that Ripple should be added to the list.
While Scaramucci claimed that the Ripple case had already been dropped, the SEC has yet to announce an official decision regarding the Ripple case.
The SEC-Ripple case continues to be heard in the Court of Appeals.
*This is not investment advice.
