Report: SEC Drops Majority of Crypto Cases Inherited From Biden Era

The U.S. Securities and Exchange Commission has withdrawn or softened enforcement action in more than 60% of cryptocurrency cases inherited from the Biden administration, according to a report by The New York Times.

Since Trump's return to the White House, the SEC has suspended proceedings, reduced penalties, or fully withdrawn charges in a significant portion of these cases. Notably, the agency is no longer actively pursuing any companies connected to Trump or his family. It has reportedly made concessions in cases involving firms that either conducted business with Trump-family crypto ventures or donated to his political causes.

By contrast, the SEC's remaining crypto enforcement actions largely target lesser-known defendants. Data cited in the report show that while the Biden administration has filed 105 crypto-related cases, Trump filed 50 during his first term and none to date in his second term.

Of the 23 crypto cases inherited by the current SEC, 21 from the Biden era and two from Trump's first term, the agency has withdrawn 14, including eight involving defendants with Trump-related ties established before or shortly after case resolutions. For comparison, the SEC withdrew only 4% of inherited cases in other industries.

SEC Commissioner Hester Peirce stated that the withdrawals were intended to correct prior enforcement errors, emphasizing that political or financial considerations played no role in the agency's decisions. #WLFI $TRUMP $MELANIA $WLFI