In brief
- The SEC has dismissed seven major crypto cases, even while enforcement actions dropped by 22% last year.
- Penalties dropped to $2.7 billion from $8.2 billion the prior year.
- Observers say the shift could ease regulatory overhang and unlock institutional capital.
The SEC has said that the crypto enforcement campaign conducted under its previous leadership set “misguided expectations” in an annual report that appears to formally reject its past actions against crypto firms.
Resources “have been misapplied in prior years to pursue media headlines and run up numbers,” the Commission said, adding that this has “led to misguided expectations on what constitutes effective enforcement.”
It comes as the Commission, now led by SEC Chairman…
