This article explains that the SEC suspends its execution actions against Coinbase and Binance! Completely stop cryptocurrency-related investigations

According to former Securities and Exchange Commission official John Reed Stark, the SEC has suspended lawsuits against Coinbase and Binance, and the appeal in the Ripple case is also expected to be suspended. Stark believes that this means that the SEC's enforcement actions on cryptocurrencies may have officially ended.

Behind the SEC's suspension of law enforcement actions

Stark noted that the SEC filed documents with the Second Circuit, claiming that the newly formed cryptocurrency task force could facilitate a settlement with Coinbase and therefore needed to delay response to Coinbase's appeal. The joint motion shows that the SEC is reevaluating its way of regulating cryptocurrencies. Similarly, the SEC also reached an agreement with Binance to suspend enforcement actions against Binance for two months, with the same reasons. These actions all imply that the SEC intends to suspend the crackdown on the crypto industry.

SEC internal changes: cleaning and reorganization?

Stark also mentioned that large-scale adjustments may be underway within the SEC. Jorge Tenreiro, the core lawyer in charge of major cryptocurrency litigation such as Ripple, Coinbase and Binance, has been transferred to the IT department. The move has sparked a lot of speculation, suggesting a major shift in the SEC's cryptocurrency enforcement strategy. At present, these cases have been taken over by the legal team at the SEC headquarters. In addition, the "Cryptocurrency and Cybersecurity Department" has been renamed the "Cyber ​​and Emerging Technology Department".

Stark's forecast for SEC's future cryptocurrency policy:

Stark predicts future possibilities of SEC:

• Stop all investigations on cryptocurrencies: Including formal and informal investigations.
• Suspend or accelerated the settlement of all cryptocurrency-related lawsuits: A settlement may be reached on a favorable condition for the defendant.
• Suspend or withdraw all cryptocurrency-related appeals: Including appeals in the Ripple case.

Stark believes that the SEC crypto law enforcement has actually collapsed, and the influence of these judgments has been greatly reduced even if the court has repeatedly ruled that digital assets are securities. Regardless of how the SEC's acting chair or future chairperson explains the suspension of enforcement actions, the SEC's enforcement efforts on cryptocurrencies have been significantly weakened.

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