The U.S. Securities and Exchange Commission (SEC) has officially ended its investigation into Crypto.com with no enforcement action taken, according to CEO Kris Marszalek.
In a March 27 post on X, Marszalek claimed the company had faced a coordinated effort to shut it down. “They used every tool available to attempt to stifle us—banking, auditors, investors, and more,” he wrote. “The fact that we not only persevered but became stronger is a testament to our vision and the community supporting it.”
The SEC had issued a Wells notice to Crypto.com in August 2024, signaling potential legal action. In response, the company sued the agency in October, accusing then-Chair Gary Gensler of overreach and an anti-crypto agenda.
Nick Lundgren, Crypto.com’s chief legal officer, said in a March 27 statement that the case’s closure marks a turning point. “We are pleased the current SEC leadership chose to shut this down,” he said, blaming the prior administration for “abusing its authority to harm the crypto industry.”
The decision follows a string of dropped SEC cases against other crypto firms in recent weeks, including Coinbase, Consensys, Robinhood, Uniswap, and OpenSea. The SEC also dismissed its civil case against trading firm Cumberland DRW on the same day, March 27.
Since Mark Uyeda became acting SEC chair in January, replacing Gensler, the agency has taken a noticeably friendlier approach to crypto. Uyeda launched a Crypto Task Force led by Commissioner Hester Peirce and reversed a controversial rule that required firms to report crypto as liabilities.
Crypto.com, meanwhile, is moving forward. On March 24, it announced a new partnership with Trump Media to launch “Made in America” exchange-traded funds (ETFs), with Crypto.com providing custody and infrastructure. The ETF lineup is expected to include tokens like Bitcoin, Ether, Solana, XRP, and Cronos.
The closure of the SEC probe marks a major win for Crypto.com and signals a broader shift in U.S. crypto policy.
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