The U.S. Securities and Exchange Commission (SEC), under the interim leadership of Mark Uyeda, is currently canceling a wave of legal actions against crypto companies that were initiated during Gary Gensler’s tenure. This shift in approach aligns with promises made by Donald Trump to this industry during the election campaign. Over the past six weeks, the SEC has canceled or halted several cases against prominent companies like Coinbase, Kraken, Gemini, and Consensys. These actions have been met with approval from experts who believe that SEC’s new approach ‘promotes cooperation over confrontation.’ Coinbase’s CEO welcomed the dismissal of the case against his company and accused Gensler of ‘overstepping his authority.’ It appears that the SEC is now focusing on creating transparent guidelines instead of aggressive legal actions, which could lead to a more predictable and supportive legal environment for the crypto industry.
