In a significant win for the crypto industry, the U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into Crypto.com, taking no enforcement action against the exchange. The announcement was made on March 28 by Crypto.com CEO Kris Marszalek, who called it a turning point in the platform’s regulatory journey.
“They used every tool available to attempt to stifle us,” Marszalek wrote in a post on X. “The fact that we not only persevered but became stronger is a testament to our vision and the community supporting it. Onwards!”
The closure comes nearly seven months after the SEC issued a Wells notice to Crypto.com in August 2024, indicating its intent to pursue legal action. In response, Crypto.com filed a lawsuit against the SEC in October, accusing then-chair Gary Gensler of regulatory overreach and a “misguided” crackdown on digital assets.
Crypto.com’s chief legal officer, Nick Lundgren, said the decision to drop the case reflects a changing tone under new leadership:
“We are pleased that the current SEC leadership has made the decision to close its investigation.”
Part of a Broader Rollback in Crypto Enforcement
The decision to walk back the Crypto.com case is not an isolated move. Over the past five weeks, the SEC has dropped or eased multiple investigations and enforcement actions involving prominent platforms, including Coinbase, Uniswap, Gemini, OpenSea, Consensys, and most recently, Immutable.
On the same day as the Crypto.com announcement, the SEC also dismissed its civil case against Cumberland DRW with prejudice, signaling an intent to wind down aggressive legal tactics once common under Gensler’s tenure.
Since Mark Uyeda took over as acting SEC chair on Jan. 20, the agency has made several moves reflecting a friendlier stance toward digital assets. Notably, it canceled a controversial rule in January that required financial firms to record crypto as a liability on their balance sheets, a policy widely criticized by the industry.
A newly created Crypto Task Force, now led by crypto-friendly Commissioner Hester Peirce, is steering this new approach. Meanwhile, the confirmation process is underway for Trump’s SEC chair nominee, Paul Atkins, who is expected to reinforce a pro-innovation regulatory framework.
Crypto.com and Trump Media Launch ETF Initiative
Just days before the SEC decision, Crypto.com announced a partnership with Trump Media to roll out a suite of “Made in America” crypto exchange-traded funds (ETFs) later this year.
As part of the partnership, Crypto.com will provide the infrastructure and custody services for the ETFs, which may include a basket of leading cryptocurrencies like Bitcoin, Ether, Solana, XRP, and Cronos.
This development highlights Crypto.com‘s shifting role—from being a regulatory target to becoming a key infrastructure partner in mainstream finance.
What’s Next
The SEC’s decision to end its case against Crypto.com could signal a broader thaw in U.S. crypto policy, potentially setting the stage for more balanced regulation, institutional growth, and new capital inflows into the sector.
For Crypto.com, it’s not just a legal win—it’s a validation of its strategy, compliance posture, and growing influence in shaping the next phase of the digital asset economy.
