Crypto's Big Break: US SEC Drops Major Cases in 2025

Since President Trump took office in January 2025, the SEC has closed many cases against crypto companies - most without any punishment. This marks a dramatic shift in regulatory approach compared to previous years.

Recent Case Closures (February-March 2025)

The Big Winners

Coinbase (Feb 21, 2025) - The SEC's lawsuit against the largest US crypto trading platform was completely dismissed - no settlement, no compromise. The SEC had accused Coinbase of:

• Operating as an unregistered securities exchange

• Facilitating trading of tokens they claimed were securities (like Solana)

• Offering an unregistered staking program

  
  

This dismissal is considered a landmark victory for the crypto industry.

Robinhood (Feb 21, 2025) - Investigation closed with no charges, allowing the popular trading app to expand its crypto offerings without regulatory barriers.

OpenSea (Feb 22, 2025) - The leading NFT marketplace escaped charges despite the SEC's claim that NFTs sold on its platform were securities. This decision provides crucial clarity for the NFT market.

Uniswap Labs (Feb 25, 2025) - No charges filed against this decentralized exchange, despite earlier allegations it operated as an unregistered securities exchange. A significant win for DeFi (decentralized finance).

Kraken (Mar 2025) - The lawsuit was dismissed "with prejudice" (meaning it can't be refiled = permanently dismissed), with no admission of wrongdoing and no required business changes. Kraken didn't have to admit doing anything wrong or change how it operates.

Ripple (Mar 2025) - After a prolonged legal battle dating back to Dec 2020, Ripple settled by paying just $50 million of a $125 million fine. Both parties dropped their appeals, ending one of crypto's longest-running SEC cases.

Yuga Labs (Mar 3, 2025) - The creator of Bored Ape Yacht Club NFTs faced no charges after being investigated for years, boosting confidence in the NFT sector.

Other Notable Closures

Several other crypto companies saw investigations closed or lawsuits dismissed in February-March 2025:

• ConsenSys (MetaMask creator)

• Crypto.com

• Cumberland DRW

• Immutable

• Pulsechain/HEX

• Gemini

Why The Cases Were Dropped:

Before: The SEC was using a "regulation by enforcement" approach, basically trying to control the crypto industry by suing companies and launching investigations, often without clear rules first.

Now: The government seems to be moving toward working with crypto companies instead of just punishing them. They appear to be focusing more on creating clear rules that everyone can understand and follow.