US Democrats allege SEC dropped crypto cases amid industry donations to Trump

A group of U.S. Democratic House members has accused the Securities and Exchange Commission (SEC) of halting major cryptocurrency-related investigations due to political collusion, CoinDesk reported. In a letter to SEC Chairman Paul Atkins, Representatives Maxine Waters, Sean Casten, and Brad Sherman stated that the agency has dismissed or closed at least 12 cases since the beginning of last year. The lawmakers noted that these included actions against Coinbase, Binance, and Kraken, which they argued the SEC had a high probability of winning. They pointed out that the timing of the discontinued investigations coincides with a period when the cryptocurrency industry was actively making donations to the Trump administration.