Trump-Appointed SEC Chair Leads Crypto Policy Pivot, But Not Everyone’s A Fan
The SEC’s pivot on cryptocurrency enforcement after Donald Trump returned to office in January has sparked a heated debate between industry veterans and market observers.
SEC Drops Majority Of Inherited Crypto Cases
The New York Times on Sunday reported that the SEC inherited 23 active crypto enforcement matters and pulled back on 14 of them through dismissals, freezes or settlements.
The publication described the shift as unusual for a regulator historically reluctant to retreat from active litigation.
Former SEC trial counsel Christopher E. Martin, who led one of the dropped cases, called the retreat “a complete surrender,” arguing that investors were “thrown to the wolves”.
According to the report, internal resistance within the SEC grew during the presidential transition.
Enforcement chief Sanjay Wadhwa urged staff to continue pursuing crypto cases, but several senior officials allegedly disengaged.
The Times cited sources saying one senior crypto leader took an unannounced multiweek absence, while another …
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