tl;dr
The SEC is reducing the size of its crypto enforcement unit, reassigning over 50 lawyers and staff members working on crypto-related cases. This downsizing aligns with President Trump's executive order to boost digital asset growth by reducing regulatory constraints. The SEC's high-profile cases, in...
SEC's Crypto Enforcement Unit Downsizing The SEC is reducing the size of its crypto enforcement unit, reassigning over 50 lawyers and staff members working on crypto-related cases. This downsizing aligns with President Trump's executive order to boost digital asset growth by reducing regulatory constraints.
The SEC's high-profile cases, including the lawsuit against Ripple, face uncertainty as staff members are reassigned. Additionally, Acting SEC Chairman Mark Uyeda has established a task force, led by Commissioner Hester Peirce, to review the agency's strategy on digital assets.
The US government is also exploring regulatory clarity for the industry, with discussions around establishing a national Bitcoin reserve and presenting a stablecoin bill to Congress.
SEC IS SCALING BACK ON CRYPTO ENFORCEMENT
The downsizing follows an executive order from President Trump to drive the growth of digital assets by reducing regulatory constraints. Several lawyers from the crypto unit are being reassigned to different departments within the SEC.
The reassignment of staff raises questions about the future of the SEC’s high-profile cases, including its long-standing lawsuit against Ripple.
Acting SEC Chairman Mark Uyeda has established a task force to review the agency’s strategy on digital assets. This team is led by Commissioner Hester Peirce, who is known for her strong support of crypto initiatives.
White House Crypto Czar David Sacks, alongside Senate leaders, held a press conference outlining the priorities of the newly created Digital Assets Working Group.
Sacks highlighted that the group’s main objective is to explore the establishment of a national Bitcoin reserve. Currently, 15 states are considering adopting Bitcoin as a strategic reserve asset. A new stablecoin bill is also being presented to Congress.