Trump’s Crypto Comeback: SEC Bows Out of Crypto.com Investigation!

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So, here we are, folks: the U.S. SEC versus Crypto.com—a battle of epic proportions that could only be rivaled by the legendary Rugby World Cup final. And guess what? The SEC has waved the white flag and officially closed its investigation into Crypto.com, leaving no enforcement actions in its wake. It’s like a referee whistle-blowing on a match that never quite got going!

SCOOP: The @SECGov has officially closed its investigation into @cryptocom with no enforcement actions being brought against the exchange, according to a source close to the matter.

The move comes after the company received a Wells notice from the SEC in October of last year,…

— Eleanor Terrett (@EleanorTerrett) March 27, 2025

It appears that with the SEC dropping a series of cases, Donald Trump is determined to keep his promises of catapulting crypto into the financial limelight. Can we just take a moment to wonder if he’s still got Mar-a-Lago on speed dial for his financial advice? But hey, he’s got to tidy up the mess that Biden and Gary Gensler left behind first, right?

This development comes on the heels of similar decisions regarding Coinbase, Kraken, and Ripple. Among the compliant exchanges, Crypto.com has successfully thumbed its nose at what some might describe as the SEC’s not-so-subtle power play. They’ve turned this legal debacle into a B-rated action movie plot—complete with twists and triumphs!

The SEC’s investigation into has been closed with no action being taken against .

— Kris | Crypto.com (@kris) March 27, 2025

Now, let’s rewind a bit. Back in October 2024, the SEC decided to send a Wells notice to Crypto.com—a dramatic flourish that signaled it was flirting with the idea of a lawsuit. But Crypto.com, refusing to be pushed around, decided to fight back with a suit of its own against the SEC for being, well, a bit overzealous. However, they pulled the brakes on that in December when Trump staunchly declared his plans to install crypto advocate Paul Atkins as the SEC chair. Coincidence? 🤔

Crypto.com’s Response

The saga of Crypto.com’s tussle with the SEC began when regulators decided to go on a rampage against several crypto firms. While other exchanges were getting cozy with lawsuits or settlements, Crypto.com opted to stand firm. It feels very much like the David versus Goliath tale we’ve all grown fond of, doesn’t it?

Nick Lundgren, Crypto.com’s Chief Legal Officer, couldn’t help but label the investigation a totally unnecessary faux pas. He had some sharp words for the SEC’s aggressive tactics, reminding us all that instead of creating a fair landscape for the crypto industry, they seemed intent on stirring the pot of chaos.

With this chapter of legal wrangling now closed, Crypto.com remains one of the rare global exchanges dodging the legal bullet from U.S. regulators. A round of applause, anyone? 👏

Crypto.com’s Compliance Record Stands Strong

If there’s one thing that stands out through this drama, it’s Crypto.com’s sparkling compliance record. They boast over 100 regulatory approvals worldwide, which is more than my collection of bizarre refrigerator magnets! They’re operating within tight financial guidelines—even winning the approval of some U.S. watchdogs, dishing them an enviable reputation in a shaky industry.

With the SEC’s case in the rearview mirror, Crypto.com is looking ahead, eager to work with regulators to craft policies that actually work. They’re not merely looking to expand—but pushing for the kind of clear, innovation-friendly regulations that would make even the most seasoned crypto enthusiasts nod in agreement.

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2025-03-28 06:53