US rep questions who will police crypto as Trump's SEC steps back

U.S. Representative Stephen Lynch has voiced concerns that the Securities and Exchange Commission (SEC) under the Donald Trump administration is no longer acting as the "crypto police," leaving a void in monitoring industry misconduct. Speaking at a hearing of the House Subcommittee on Digital Assets, Financial Technology and Inclusion on March 26, Lynch acknowledged the potential for innovative technology to generate significant profits but expressed worry over recent regulatory trends, Cointelegraph reported. He highlighted that the Trump administration has dismantled several SEC teams responsible for managing fraud cases and has dropped most lawsuits against indicted companies, some of whose executives have close ties to the administration.