SEC steps back in Crypto.com investigation: Pressures on crypto are easing.

The U.S. Securities and Exchange Commission (SEC) has closed its investigation into the Crypto.com exchange without any sanctions. The company announced on Thursday that the SEC would not file any enforcement actions against them. No official statement has been released from the SEC yet.

Crypto.com’s Chief Legal Officer, Nick Lundgren, commented that the previous SEC administration had intentionally sought to expand its authority over the industry. He expressed that the lengthy investigation forced the company to take legal action, arguing that this process was necessary to uphold the rule of law. After receiving a Wells notice from the SEC in October 2024, Crypto.com had previously filed a lawsuit claiming that the SEC exceeded its authority by classifying the majority of crypto assets as securities.