Federal officials Declare The so -called Memecoins will not be subject to strict supervision.
A series of investigations were stopped in the main cryptocurrency companies.
The Securities and Stock Exchange Committee agreed to stop the fraud case against a higher encryption entrepreneur.
Shortly more than one month after President Trump’s inauguration, American organizers dismantled him almost completely on a government campaign for the encryption industry, which is a volatile sector. Fraud, fraud and theft.
The organizers continued promises to the campaigns presented by Mr. Trump last year, as he donated deep encryption investors and marketing his digital currency to the public.
But a few in the encryption industry are expected to reach a lot of victories so quickly.
Last week, the Supreme Education Council Agreed To drop a lawsuit against Coinbase, the largest encryption company in the United States. Then, in the fast caliphate, senior executives in the encryption companies twinand Opensea and Uniswap labs It announced that the agency had suspended its investigations into its companies. Officer of another key encryption company, consysysHe said on Thursday that the Supreme Education Council had agreed to withdraw a lawsuit targeting one of the popular company products.
“This represents another milestone until the end of the war on encryption,” Cameron Winkelvos, the founder of Gemini, books On x on Wednesday. “I am pleased to turn the page here.”
Fast legal moves have amazingly reflected by the organizers who usually move with caution, hesitating to abandon continuous litigation. In the event of an issue, the Supreme Education Council is back away from an ambitious legal campaign, led by the Biden Administration, to classify almost all digital currencies as securities – and expose them to the same strict rules that govern shares and bonds traded in Wall Street.
Dennis Keylir, the head of the best markets, a non -profit organization that pushes for the strong organization, said that the reflection “is joking, SEC’s credibility, integrity and reputation, and sends a message that a political organization is working on the latest elections.”
Some agency’s actions are preparing to benefit directly from Mr. Trump or his business partners, which creates a conflict of interests with A small precedent In American history, according to government ethics experts.
It was clear Thursday When the Supreme Education Council said it will not exercise any organizational authority on Memecoins, a risk -framed type of cryptocurrency associated with celebrities or online joke. Days before his inauguration, Mr. Trump Mimikoen created his $ Tram, which is what I was born Tens of millions of dollars for his family and partners.
This week, the Supreme Education Council also asked a federal judge to stop a major fraud case against the entrepreneur in the encryption of Justin Sun, who invested tens of millions of dollars in another of the Trump family encryption projects, global financial freedom. The judge authorized the request.
A representative of Mr. Sun refused to comment. “The agency needs to” correct its approach and develop the encryption policy in a more transparent way. “
According to the Biden Administration, the head of enforcement of the Supreme Education Council led its president, Gary GinsnerWho became an enemy of the encryption industry. Mr. Jinsler filed lawsuits against a large number of higher companies, including Crypto Exchange Coinbase, Binance and Kraken.
Mr. Trump pledged to end this campaign. To replace Mr. Jinsler in the Supreme Education Council, nominate Paul AtkinsSecurities lawyer with close relationships with the encryption industry. David Sachs, a project investor and encryption lovers, also took advantage of the “White House AI and Crypto CZAR”.
In his first week in office, Mr. Trump Fell Executive order laying the foundation for a comprehensive reform of the regulation of federal encryption. Then the Supreme Education Council began to act.
Last week, the agency agreed to drop a lawsuit against Coinbase – a case that argues that the stock market was marketing unregistered securities – without imposing any financial penalty, in a complete victory of the company.
In a lawsuit against BinanceThe Supreme Education Council requested a temporary stop for a period of 60 days, noting the efforts “to facilitate the potential accuracy of this issue.” The agency has taken more specific steps in many other cases, where investigations have ended in prominent companies including Gemini, and the exchange of coding founded by Cameron and Tyler Winkelvos.
It can be said that the most important procedures for the agency this week are related to Mr. Sun.
The founder of the Checks platform called TON, Mr. Sun, who was born in China, is among the most colored characters in the world of encryption. Last year, it is Spent 6.2 million dollars on an experimental piece of art – a wall recorded on the wall. Began He eats Banana.
In 2023, the Supreme Education Council foot A lawsuit against Mr. Sun, accused of manipulating fraud at the price of encoded currency. “Sun and others used an old playing book to mislead and harm investors,” Agency official He said at that time. Mr. Sun denied the allegations.
Mr. Sun is close to Mr. Trump’s internal circle. He spent 30 million dollars last year to buy an encrypted currency issued by World Liberty Financial, which Mr. Trump and his sons promoted severely.
Now Mr. Sun appears near the solution of his legal problems in the United States. In the court file on Wednesday, the Supreme Education Council requested a stop in the case as both sides “are considered a possible decision.”
