2025-03-28
March 27, 2025 — The U.S. Securities
and Exchange Commission (SEC) has officially closed its investigation into
Crypto.com and will not pursue enforcement action, the company announced
Thursday.
This marks the end of a years-long
inquiry that began with a Wells notice in 2024 and led to a brief legal battle,
which Crypto.com dropped in December.
"We are pleased that the current
SEC leadership has made the decision to close its investigation... with no
enforcement action or settlement," said Nick Lundgren, Chief Legal Officer
at Crypto.com. He criticized the previous SEC administration for what he
described as politically motivated overreach.
The decision comes amid broader
regulatory shifts following the Trump administration's return and SEC Chair
Gary Gensler’s departure. Under the new leadership, the agency has backed off
several high-profile crypto cases, including those involving Kraken, Coinbase,
and Ripple.
Crypto.com, which serves over 140
million users globally, highlighted its extensive regulatory compliance,
including over 100 approvals worldwide. The company recently entered a
non-binding agreement with Trump Media to collaborate on crypto-based ETFs under
the Truth.Fi brand.
Trump Media & Technology Group
(TMTG) has announced a partnership with Crypto.com to launch a series of
exchange-traded funds (ETFs) under its Truth.Fi brand.
These ETFs will feature a mix of
digital assets, including Bitcoin and Crypto.com's native token Cronos (CRO),
alongside traditional securities with a focus on American industries such as
energy and manufacturing.
The ETFs are expected to launch later
in 2025, pending regulatory approval, and will be available in the United
States, Europe, and Asia via existing trading platforms and brokerages.
Crypto.com remains the only major
global exchange to avoid an SEC lawsuit or settlement, and says it looks
forward to working with incoming SEC Chair Paul Atkins on clear digital asset
regulations.
