SEC Faces Pay-to-Play Claims From Dem Lawmakers Over Crypto Cases
The Securities and Exchange Commission’s moves to dismiss several prominent enforcement actions against crypto firms in the context of President Donald Trump’s support from the industry “has created the unmistakable inference of a pay-to-play scheme,” according to a letter to Chair Paul Atkins from Democratic lawmakers.
In the letter, House Financial Services Committee Ranking Member Rep. Maxine Waters (D-Calif.), as well as Reps. Brad Sherman (D-Calif.) and Sean Casten (D-Ill.) catalog dismissals of cases against Coinbase, Binance and Kraken, and urge the agency not to do the same in the case against Justin Sun, who is accused of manipulative trading to boost unregistered crypto asset securities.
The legislators also note that…
