U.S. SEC, After Start of Trump Administration, Clears Many Crypto Cases… Sharp Shift in Enforcement Stance

The U.S. Securities and Exchange Commission (SEC) has reportedly dropped or dismissed virtual-asset (cryptocurrency) related cases at a much higher rate than other securities-law areas since the start of the Donald Trump administration.

According to a New York Times (NYT) report cited by Cointelegraph on the 16th (local time), since President Trump took office in January this year, the SEC has dropped or dismissed about 60% of investigations and lawsuits related to virtual-asset companies and projects.

The report said that major cases such as Ripple Labs and Binance were among those closed, and that there are currently no active lawsuits the SEC is aggressively pursuing against companies known to be associated with Trump.

The SEC said the change in its virtual-asset enforcement strategy was based on legal and policy judgments and that there was no presidential intervention or pressure. The media also added that "no evidence was found that President Trump directly ordered cases to be dropped."

In the industry, there are counterarguments that the previous enforcement stance itself was excessive. Alex Thorn, head of Galaxy Digital Research, said, "Explaining the regulatory shift over the past year as the personal interests of the president is a dishonest frame," adding that it "overlooks the extreme regulatory attacks carried out over the previous four years."

Still, the fact that the Trump family has rapidly expanded its ties with the digital-asset industry in 2025 is drawing market attention. Trump-related entities are involved in several virtual-asset projects, including World Liberty Financial (WLFI), Official Trump (TRUMP), and the Bitcoin mining business "American Bitcoin," in which Trump's sons were involved. Against this backdrop, analysts say it cannot be ruled out that the SEC's easing of enforcement could lead to future debates over regulatory credibility.