As Trump’s SEC halts crypto crackdown, judge pauses GOP lawsuit
This month, a federal judge in the United States granted a 60-day stay order in a case brought against the U.S. Securities and Exchange Commission (SEC) by 18 largely Republican state attorneys general.
Launched last year, the lawsuit aimed to correct what the plaintiffs viewed as “gross government overreach” against the crypto industry under the previous tenure of former SEC chair Gary Gensler.
Gensler’s “regulation by enforcement” era was marked by a string of high-profile lawsuits against crypto firms such as Coinbase and Ripple.
According to Cornerstone Research, enforcement actions against crypto firms surged by 80% under Gensler’s administration, resulting in fines over $6 billion.
However, President Donald Trump’s…
