Donald Trump’s administration has fully modified the tenor of cryptocurrency regulation and enforcement, with the Securities and Alternate Fee (SEC) particularly pausing, dismissing, and amending numerous actions that had been introduced.
These modifications have come because the SEC has designated Commissioner Hester Peirce to guide a Crypto Job Drive with the purpose “to provide clarity on the application of the federal securities laws to the crypto asset market.”
Protos has recognized the crypto-related lawsuits and investigations that the SEC has modified since Trump’s inauguration. You may see them right here.
Justin Solar
Justin Solar, an advisor to Trump-affiliated World Liberty Monetary and main investor within the $TRUMP memecoin, was being sued alongside the TRON Basis.
The allegations on this lawsuit included that TRX and BTT have been supplied as securities with out registration and that Solar directed market manipulation, together with wash buying and selling.
This lawsuit was paused in a joint movement on February 26, 2025.
Binance
Binance, the world’s largest crypto trade, was being sued by the SEC for allegations that it didn’t register as a securities trade, wash-traded tokens, and mishandled buyer funds.
On February 10, there was a joint movement to remain the proceedings, and the case was dismissed on Might 29.
Ripple
Ripple Labs was the goal of an SEC lawsuit began within the first Trump administration that alleged that it bought unregistered securities.
On March 19, Ripple introduced that the SEC was going to dismiss its enchantment in opposition to it.
On April 16, this was echoed in a joint movement to carry the enchantment in abeyance.
Immutable
Immutable, which describes itself as “your hub for Web3 Gaming,” introduced on March 25 that the SEC had dropped its inquiry into Immutable.
The SEC has now formally dropped its inquiry into Immutable, with no enforcement motion to be taken.
This is a gigantic win for web3 gaming – after a yr of combating, this menace to digital possession rights has lastly been put to relaxation.
We’re excited to construct.
— Robbie Ferguson | Immutable (@0xferg) March 25, 2025
Immutable had beforehand printed a discover on November 1, 2024, that publicly disclosed that it had obtained a Wells Discover from the SEC associated to its itemizing and sale of the IMX token.
Yuga Labs
Yuga Labs, the agency behind the Bored Ape Yacht Membership and different NFT tasks, introduced on March 3, 2025, that the “SEC has officially closed its investigation into Yuga Labs.”
After 3+ years, the SEC has formally closed its investigation into Yuga Labs.
This can be a big win for NFTs and all creators pushing our ecosystem ahead. NFTs are usually not securities.
— Yuga Labs (@yugalabs) March 3, 2025
Kraken
Kraken, a US-based crypto trade, had been the goal of an SEC lawsuit that alleged that it had supplied unregistered securities.
On March 3, 2025, Kraken introduced that the “SEC staff had agreed in principle to dismiss its lawsuit against Kraken.”
On March 27, 2025, the events concerned filed a joint stipulation to dismiss the case.
This go well with was separate from the earlier case that Kraken agreed to settle, which associated to its staking-as-a-service providing.
Consensys
Consensys was the goal of an SEC lawsuit associated to its MetaMask pockets and the swaps characteristic constructed into the software program.
On February 27, 2025, Consensys introduced that it and the SEC had “agreed in principle that the securities enforcement case concerning MetaMask should be dismissed.”
On March 27, the joint stipulation for dismissal was filed.
Gemini
The SEC focused Gemini for investigation.
On February 27, 2025, Cameron Winklevoss, co-founder of Gemini, introduced that the SEC had closed its investigation and “will not be pursuing an enforcement action against us.”
In his lengthy X publish, he additionally claimed that the company ought to now reimburse Gemini for its prices and that “everybody concerned in these actions needs to be fired instantly and in a public means. Their names, roles, and the actions they participated in needs to be posted on the SEC web site.“
He went on to say that “there should be a process that bars those like Gary Gensler…from ever being appointed to or hired by an agency again.”
It’s not clear how Winklevoss’ suggestion would sq. with the prevailing congressional approval course of for company heads.
OpenSea
OpenSea introduced on February 21, 2025, that the SEC is closing its investigation into the NFT market.
This was separate from the legal case that focused former Head of Product Nathanial Chastain for insider buying and selling.
Coinbase
Coinbase had been focused by the SEC in a lawsuit that alleged that it operated as an unregistered dealer, trade, and clearing company.
On February 27, Coinbase introduced that the case was to be dismissed and a joint stipulation was filed. A corrected model was filed on the next day.
Crypto.com
Crypto.com printed a press launch on March 27, 2025, that claims that the SEC “has informed Crypto.com that it has officially closed its investigation into Crypto.com and will file no enforcement action against the Company.”
Crypto.com obtained a Wells Discover from the SEC in late 2024, which resulted within the firm selecting to sue the regulator.
Robinhood
Robinhood introduced on February 24 that it had obtained steerage three days beforehand that the SEC “had concluded its investigation and did not intend to move forward with an enforcement action.”
This was following a Wells Discover that Robinhood had obtained in Might of 2024.
Uniswap
Uniswap Labs, the agency chargeable for a lot of the event of the Uniswap protocol, introduced on February 25 that “the SEC has officially closed — with no action — its multi-year investigation into Uniswap Labs.”
Uniswap had introduced in April of 2024 that it had obtained a Wells Discover from the SEC.
Staking Steerage
On Might 29, the SEC introduced that, in its view, the staking actions related to proof-of-stake “do not involve the offer and sale of securities.”
Taken as a complete, these numerous circumstances and modifications counsel that the SEC intends to convey far fewer circumstances in opposition to crypto companies throughout this time period.
