Report: SEC Has Dismissed or Paused 60% of Crypto Investigations Since January

​According to a report by The New York Times, the U.S. Securities and Exchange Commission (SEC) has shelved or dismissed approximately 60% of investigations tied to cryptocurrency firms and projects since President Donald Trump took office in January.

The report indicates that this reduction rate is significantly higher than that observed in other areas of securities law enforcement. Notable legal actions that have been paused or dropped include lawsuits against major entities such as Ripple Labs and Binance. Furthermore, the report stated that the regulator is "no longer actively pursuing a single case against a firm with known Trump ties."

The SEC denied that political motives influenced these decisions, attributing the shift to legal and policy assessments. The New York Times also noted it found no evidence of direct intervention by the President to halt enforcement actions.

Industry observers have offered differing perspectives on the change. Alex Thorn, head of firmwide research at Galaxy Digital, challenged the notion that the shift was politically driven. "The idea that the regulatory pivot on crypto over the last year is somehow because of the president’s personal interest, and not because the prior regulatory posture was absolutely insane… is dishonest framing," Thorn stated.

The enforcement slowdown coincides with impending leadership changes at the agency. Caroline Crenshaw, the last remaining Democratic commissioner, is expected to depart within weeks. Her exit would leave the commission comprised entirely of Republican appointees until new nominations are confirmed.