- Crypto.com has come out on top after a months long battle with the U.S. Securities and Exchange Commission.
- The CEO of Crypto.com confirms that investigation is officially closed by the SEC on the crypto exchange.
- This marks the end of a probe that began in August. The SEC had issued Crypto.com a notice, signaling potential legal trouble ahead
The Powerful Emerge Against SEC
As of from the post in X by the CEO of Crypto.com Kris Marszalek, He confirms that the investigation on the company has been closed.
As Kris said, ” 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”.
“They used every tool available to attempt to stifle us, restricting access to banking, auditors, investors, and beyond. It was a calculated attempt to put an end to the industry”.
“The fact that we not only persevered but became stronger is a testament to our vision and the community supporting it. Onwards!”
SEC’s closure of its investigation is a major victory for Crypto.com and the wider crypto sector, which has struggled with regulators in America. The aggressive approach of the SEC towards digital assets has prompted legal action against several crypto companies over the last few years, so this victory is a welcome one in trying times.
A Turning Point for the SEC?
Crypto.com’s Chief Legal Officer, Nick Lundgren, also said, “We are pleased that the current SEC leadership has decided to close its investigation into Crypto.com.” Lundgren also criticized the previous administration for over extending its mandate to undermine the crypto industry.
The SEC’s action is seen against a backdrop of regulatory attitudes on crypto seeming to shift. As the sector has frequently been scrutinized, some sense that crypto regulation is moving toward a more even handed approach. Crypto.com’s success in fending off regulatory pressure without triggering legal action is a milestone for crypto exchanges as they navigate the challenging U.S. legal environment.
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