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SEC Commissioner Uyeda says crypto cases were dropped to protect agency credibility
SEC Commissioner Mark Uyeda stated that the U.S. Securities and Exchange Commission dismissed several civil enforcement actions against cryptocurrency companies to protect the agency’s credibility. Speaking at the Financial Markets Quality Conference, Uyeda explained that the agency sought to avoid defending legal positions in court that it intended to reverse through new rulemaking.
Under Uyeda’s interim leadership from January to April 2025, the SEC ended lawsuits against major industry players, including Coinbase, Ripple Labs, and Kraken. This move is part of what Uyeda described as a “180-degree shift” in the agency’s approach to crypto-related litigation and regulatory strategy.
Additionally, the SEC has moved toward a rulemaking-focused model, including the implementation of an “Innovation Exemption.” This pilot framework allows specific on-chain venues to trade tokenized U.S. stocks under certain conditions, allowing the commission to observe market operations while developing long-term rules.
Entities
Coinbase · Mark Uyeda · Paul Atkins · Ripple Labs · U.S. Securities and Exchange Commission
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The SEC dismissed civil enforcement actions against companies including Kraken, Ripple Labs, and Coinbase. www.spacemoney.com.br
- [● 3 SOURCES] The SEC dropped several crypto cases inherited from the prior administration to protect agency credibility. www.cryptobreaking.com · www.spacemoney.com.br · coinedition.com
- [● 2 SOURCES] The agency is undergoing a 180-degree shift in its approach to crypto rulemaking and litigation strategy. www.cryptobreaking.com · coinedition.com
- [○ 1 SOURCE] The SEC introduced an Innovation Exemption to allow certain venues to trade tokenized U.S. stocks. coinedition.com