The U.S. Securities and Exchange Commission (SEC) is undertaking a full-scale retreat from much of the major crypto litigation started under former Chair Gary Gensler, but not everyone is off the hook.
At least four lawsuits against crypto companies — Ripple, Kraken, Cumberland DRW and Pulsechain — remain ongoing, and probes into another three firms — Unicoin, Crypto.com and Immutable — have not yet been closed.
SEC Commissioner Hester Peirce, the leader of the agency’s newly-created Crypto Task Force, has already made good on her promise earlier this month to “disentangle” the SEC from various crypto-related litigation. The agency has agreed to drop its cases against Coinbase and ConsenSys, pending commissioner approval, and has put its cases against Binance and Tron on pause as the parties consider a “potential resolution.”
The unprecedented activity level at the SEC as it backs away from crypto actions…
