- SEC closes Crypto.com investigation without enforcement, signaling regulatory shift.
- Trump Media partners with Crypto.com to launch “Made in America” ETFs for digital assets.
- SEC drops multiple crypto firm investigations, including Immutable, reflecting a changing stance.
The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into Crypto.com exchange without pursuing enforcement action.
This development comes after Crypto.com had previously received a Wells notice from the agency – typically a signal that charges are likely – related to its US operations.
Crypto.com had initially filed a lawsuit challenging the SEC’s jurisdiction and its broad classification of most cryptocurrencies as securities. However, the exchange notably withdrew that suit shortly after news emerged regarding Donald Trump’s potential appointment of Paul Atkins, perceived as potentially more crypto-friendly, to chair the SEC.
Crypto.com CLO Criticizes Prior SEC ‘Harm’
Reflecting on the probe, Crypto.com’s Chief Legal Officer, Nick Lundgren, had previously criticized the SEC’s actions under former leadership. He alleged the agency sometimes used its regulatory power in ways that could harm the developing crypto industry.
Lundgren affirmed Crypto.com’s commitment to defending the rule of law, despite what he described as a lengthy investigation process.
Crypto.com Partners Trump Media for ‘Made in America’ ETFs
This regulatory resolution for Crypto.com coincides with a separate, significant announcement: a partnership with Trump Media and Technology Group Corp. (TMTG). The two companies plan to launch a series of “Made in America” exchange-traded funds (ETFs). These investment funds will reportedly hold a mix of digital assets, including Bitcoin (BTC) and Crypto.com’s own Cronos (CRO), alongside stocks related to industries focusing on American-made products and supply chains.
Related: TMTG (Truth Social) Teams Up with Crypto.com for “Made in America” ETFs
The ETFs are expected to be offered through Crypto.com’s US-registered broker-dealer, Foris Capital US, and potentially made accessible on other major brokerage platforms across the US, Europe, and Asia.
Part of a Broader SEC Shift on Crypto Enforcement?
The closure of the Crypto.com probe isn’t an isolated event. It adds to a recent pattern where the SEC appears to be dialing back certain crypto enforcement investigations initiated under previous leadership.
In recent months, the agency also reportedly closed probes involving exchanges Kraken and Coinbase without filing charges.
Related: SEC Drops Multiple Lawsuits and Investigations Against Crypto Firms—Here’s the List
Add to this, the SEC ending its appeal attempt in the long-running case against Ripple Labs earlier this month. It also concluded an investigation into the blockchain gaming company Immutable regarding its IMX token without taking legal action.
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