Crypto.com Beats SEC Probe—Case Closed With No Action Taken

The U.S. Securities and Exchange Commission (SEC) finalized its investigation of Crypto.com by making no decisions. The review process lasted for seven months because the exchange received a Wells notice from the SEC in August 2023.

Crypto.com CEO Kris Marszalek announced on March 27 that the SEC had officially ended its inquiry into the company, bringing the investigation to a close. In a post on X, he remarked, 

“Every possible tool was used to try and hold us back—blocking access to banking, auditors, and investors. It was a deliberate move to shut down the industry.”

Nick Lundgren, Crypto.com’s chief legal officer, also addressed the development, stating, 

“We welcome the decision by the current SEC leadership to end its investigation into Crypto.com.” 

He asserted that the previous administration had treated the crypto industry unfairly.

The SEC’s investigation into https://t.co/pFc4Pz9nFR has been closed with no action being taken against https://t.co/pFc4Pz9nFR.

— Kris | Crypto.com (@kris) March 27, 2025

The SEC had issued a Wells notice to Crypto.com in August, signaling potential enforcement action. In response, the company filed a lawsuit against the SEC in October, arguing that the agency was overreaching in its regulation of digital assets.

SEC Eases Pressure on Crypto Firms

The closure of the Crypto.com case follows a broader shift in the SEC’s handling of cryptocurrency companies. Over the past month, the regulator has dropped several investigations and lawsuits involving major firms such as Coinbase, Consensys, Robinhood, Gemini, Uniswap, and OpenSea.

On March 27, the SEC also dismissed its case against Cumberland DRW, a crypto trading firm. Earlier this year, the agency withdrew a rule that required financial institutions holding cryptocurrency to report it as a liability on their balance sheets.

Leadership Change Drives New Approach

The SEC’s position on cryptocurrency regulation has changed since Mark Uyeda assumed the role of acting chair on January 20. His leadership came after Gary Gensler’s resignation, who had implemented a forceful enforcement approach toward companies dealing with digital assets.

To back its revised policies, the SEC established a Crypto Task Force, headed by Commissioner Hester Peirce. At the same time, Paul Atkins, who was nominated by former President Donald Trump, is advancing toward confirmation as the upcoming SEC chair. His appointment was postponed because of financial disclosure obligations, but is now progressing.

Crypto.com Moves Forward With Expansion

Crypto.com continues to push forward with its business growth despite the recently closed regulatory case. On March 24, the exchange revealed a collaboration with Trump Media to introduce a lineup of “Made in America”-themed exchange-traded funds (ETFs). 

As part of the agreement, Crypto.com will oversee the technical infrastructure and safeguard the assets backing these ETFs, which may feature Bitcoin, Ethereum, Solana, XRP, and Cronos.

The company operates under a new strategy to expand its services after completing its SEC regulatory probe.