Michaela
The U.S. Securities and Exchange Commission (SEC) has ended its investigation into Crypto.com, concluding a seven-month review that began with a Wells notice over the platform’s token sales.
Crypto.com CEO Kris Marszalek announced on X that the SEC has officially closed its investigation into the exchange, confirming that regulators will not be pursuing any enforcement action.
“I continue to be proud of how this industry and its community have weathered storm after storm, with the most prolific being the previous U.S. Administration’s war on crypto,” Marszalek wrote.
Additionally, he alleged that the SEC employed various measures to hinder Crypto.com’s operations, including limiting the platform’s access to banking services, auditors, and investors. “It was a calculated attempt to put an end to the industry,” Marszalek claimed.
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In a March 27 statement, Chief Legal Officer Nick Lundgren criticized the previous administration, alleging it misused its authority to undermine the cryptocurrency industry.
“It is unfortunate that we were forced to endure this years-long investigation and file our own suit against the SEC to protect the rule of law. Compliance and integrity are core to Crypto.com’s business and we are excited to work with soon-to-be-confirmed Chair Atkins and the rest of the Commission on our long-awaited desire for legislation and rulemaking,” Lundgren said.
Crypto.com Files Lawsuit Against SEC
In October 2024, the exchange filed a lawsuit against the SEC, challenging the agency’s actions. It claimed the regulatory efforts were part of an “unjust” crackdown on the crypto industry.
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Crypto.com pushed back against the SEC, accusing the agency of overstepping its authority by expanding its jurisdiction over digital assets without proper public input. The exchange specifically criticized what it saw as an arbitrary distinction between Bitcoin and Ether — generally not classified as securities — and other cryptocurrencies that have faced heightened scrutiny.
The firm argued that many digital assets share characteristics with Bitcoin and Ether and are sold in similar ways, yet are subject to different regulatory treatment. Echoing broader industry concerns, Crypto.com accused the SEC of engaging in “regulation by enforcement,” claiming this approach stifles innovation and threatens the future of the U.S. crypto sector.
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MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
