SEC Scales Back Crypto Enforcement Unit

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The SEC is reducing the size of its enforcement unit for cryptocurrency, comprised of more than 50 lawyers and staff responsible for regulating digital assets, according to five informed sources.

This restructuring reflects the Trump administration’s efforts to decrease cryptocurrency regulations and promote growth. Early executive orders under Trump aimed to encourage the crypto industry while preventing excessive regulation.

As part of the changes, some members of the crypto enforcement team will be relocated to other divisions within the SEC, and a prominent attorney has been removed from the enforcement division, possibly signaling a demotion.

Trump’s stance on digital assets shifted from skepticism to support during his 2024 presidential campaign, garnering endorsements from the crypto community. This was seen as a departure from the community’s previous view of former SEC Chairman Gary Gensler as an adversary.

Louis Adams https://www.satoshihodler.com

I am an experienced crypto news writer. I have been in the industry for many years and believe this tech can bring financial freedom to everyone.