After years of targeting the crypto industry and cracking down on projects and companies operating in the sector, the United States Securities and Exchange Commission (SEC) has just withdrawn its last probe.

The news emerged as the SEC officially closed its investigation into Crypto.com, making this the latest, and likely the last major crypto platform to see a SEC probe dropped under Trump’s administration.

Like with other major crypto firms that the SEC stopped investigating in recent weeks, Crypto.com was also left alone, with the regulator opting not to pursue any enforcement action, despite a lengthy investigation spanning several years. While Crypto.com confirmed this, the SEC has not commented anything publicly as of yet.

The SEC Saw Major Changes As Trump’s Government Replaced Biden’s

As for Crypto.com, its Chief Legal Officer, Nick Lundgren, stated that the regulator weaponized and attempted to expand its congressionally granted power under the previous administration. He believes that the regulator’s goal under Biden, and more directly, Gary Gensler, was to harm the crypto industry. Lundgren sees this as unfortunate, especially since Crypto.com and its team had to endure a years-long investigation.

Not only that, but they had to file their own lawsuit against the agency to protect the rule of law. The Crypto.com lawsuit was filed last October after the company received a Wells notice, which is typically a move that comes prior to the regulator taking legal action.

With its own suit, Crypto.com challenged the regulator’s claim that most cryptos are securities. However, the lawsuit was then dropped in December of the same year.

Now, the SEC also dropped its own investigation. Prior to abandoning the Crypto.com probe, it did the same with Kraken, Ripple, Coinbase, Uniswap, Robinhood, and others. This shift in the regulator’s stance and behavior reflects broader changes that came with the arrival of the Trump Administration.

Gary Gensler, now former SEC chair who targeted all of the mentioned firms under the Biden administration, has resigned from his position in January of this year, only for Paul Atkins to take over and announce goals such as crafting a crypto-specific regulatory framework, which is now the SEC’s top priority.