Donald Trump's new SEC, which is expected to take office on January 20, plans to change cryptocurrency policies and may temporarily suspend sanctions, according to Reuters.
Accordingly, the new SEC administration that Trump will choose is currently reviewing some cryptocurrency cases pending in the courts.
At that point, the new SEC could freeze cases that do not involve allegations of fraud.
Crypto-friendly nominee Paul Atkins is expected to end President Biden’s crackdown on cryptocurrencies driven by Democratic SEC chairman Gary Gensler, but it is not yet clear when the Senate will confirm Atkins.
Gensler’s SEC, concerned about fraud and market manipulation, has initiated at least 83 crypto-related enforcement actions, but is expected to begin reviewing those cases in the first few days of the new administration and freeze some cases that do not involve allegations of fraud, sources told Reuters. Some of those cases could even be dropped.
As is known, the SEC filed lawsuits against leading exchanges such as Coinbase and Kraken. In these lawsuits, the SEC claimed that the exchanges were offering cryptocurrencies that were actually securities and were not complying with SEC rules.
*This is not investment advice.
