SEC Quietly After Gensler's Resignation, Pantera Says
Several legal actions taken by the U.S. Securities and Exchange Commission (SEC) against cryptocurrency companies may quietly fade away after SEC Chairman Gary Gensler resigned in January, according to Katrina Paglia, chief legal officer at Pantera.
Legal disputes may end in settlements.
Speaking at the North American Blockchain Summit in Dallas on Nov. 21, Paglia suggested that most cases will likely end in settlements. “I think we’ll see some settlements where defendants agree to pay something and use language like ‘neither admit nor deny,’” she explained.
She added that while the SEC could theoretically withdraw its claims, that is unlikely: “Things have gone too far.” Instead, she believes the regulator will seek settlements to recoup the time and resources spent on these cases.
History of SEC Legal Actions Against Cryptocurrency Companies
Under Gensler’s leadership, the SEC has initiated legal action against several major cryptocurrency companies, including Ripple, Coinbase, Binance, Kraken, Uniswap, OpenSea, Consensys, Crypto.com, and Robinhood. These efforts were part of a broader strategy to regulate the cryptocurrency sector, though they have drawn criticism from industry participants.
Changes in SEC leadership could signal a shift in the regulatory approach to cryptocurrencies in the United States, potentially reducing legal pressure on the industry.
