1. Gary Gensler’s Crackdown on Digital Assets:
Gensler, a former Goldman Sachs banker, has led the most aggressive regulatory push against the cryptocurrency industry.
Dozens of lawsuits have been filed against cryptocurrency companies and traders, including:
Coinbase Global.
DRW Holdings.
The number of cases filed by the Securities and Exchange Commission has increased by 50% over the past year.
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2. Donald Trump’s victory and its impact on organizations:
Trump's victory almost guarantees a rollback in cryptocurrency legislation.
Trump vowed during a Bitcoin conference in July to fire Gensler on the first day of his second term.
The future trend expects to reduce the strict measures on digital assets.
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3. SEC Procedures:
The Commission often asserts that traditional securities laws apply to digital assets.
Heavy fines were imposed, including:
$4.5 billion for Terraform Labs and its founder Du Quang in April 2024.
During the previous fiscal year, the Commission filed 46 cases related to digital assets.
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4. Future expectations under the Trump administration:
New legislation: Laws may be amended to make it easier for digital asset companies to comply.
Bipartisan legislation is expected to have a strong impact:
Especially with Republicans controlling Congress.
Trump administration may adopt more positive policies towards cryptocurrencies:
Support the integration of digital currencies into traditional financial services.
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5. Controversy over Gensler's departure:
Some financial bodies are demanding Gensler's immediate resignation:
Like the American Securities Association.
If Gensler resigns, the committee will become divided along party lines (2-2), disrupting strict executive procedures.
Other cases such as those against:
Uniswap (Uniswap).
OpenSea.
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6. Possibilities for a shift in the Committee’s approach:
If crypto cases reach the Supreme Court, the definition of the “Howey Test” could be narrowed to ease restrictions.
Analysts expect the SEC under Trump to take a friendlier approach to cryptocurrencies:
Coinbase's chances of winning its legal cases could rise from 60% to 80%.
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7. Statistics and reports:
Digital assets accounted for 18% of SEC complaints
Financial Year 2024.
The Commission's Investor Awareness Office has received about 6,000 complaints related to digital assets.