The US Securities and Exchange Commission (SEC) is backing away, one by one, from the volley of lawsuits and investigations it brought against cryptocurrency businesses under the Joe Biden administration, in a reversal described by a former attorney at the regulatory agency as “unprecedented.”
In the weeks since Donald Trump returned to the White House, the SEC has wasted no time in overhauling its crypto division. The day after the inauguration, the agency established a “crypto task force” responsible for developing a “comprehensive and clear regulatory framework for crypto assets.” Then, the SEC rebranded its crypto investigations branch into a smaller-scale “cyber and emerging technology unit.”
On February 13, a federal
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