SEC Dismisses Coinbase, Kraken, Gemini and Other Crypto Cases: Former SEC Lawyer Issues Warning

Recently, the U.S. Securities and Exchange Commission (SEC) has dismissed several major lawsuits against top cryptocurrency firms, signaling a shift in its regulatory strategy. The SEC dropped cases against prominent exchanges like Coinbase and Kraken, as well as other big names in crypto, including Gemini and ConsenSys. . While the SEC’s new approach aims to support innovation in the crypto space, some worry it could reduce oversight and lead to unchecked risks.

When asked if the SEC could reopen investigations into dismissed cases, former SEC lawyer Marc Fagel explained that cases already dismissed “with prejudice” cannot be re-filed. For investigations that haven’t yet become lawsuits, they could potentially be reopened, but statute of limitations issues would make that unlikely. 

While the SEC could start new investigations based on future misconduct, Fagel noted that the current administration seems focused on giving crypto more freedom, meaning it could take some time before any new actions are taken, though some investors may face significant losses in the meantime.

“But since the current administration seems intent on giving crypto a free pass–yes, a lot of investors will lose a massive amount of money–it’s gonna be awhile before that happens,”

Fagel wrote.

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Trump’s Push for Crypto Leadership

President Trump has shown strong support for cryptocurrency, aiming to make the U.S. a leader in digital assets. Early in his term, he signed an order to promote digital asset growth and created a group to propose new rules. His recent announcement hints at adding cryptocurrencies like Bitcoin, Ether, XRP, Solana, and Cardano to a national reserve. The White House is also hosting its first crypto summit on March 7, where industry leaders will discuss policies and regulations.