Official announcements from the SEC or reputable news sources

SEC Closes Investigations into Hiro, Paxos, and Other Crypto Entities

Jul 12, 2024, 02:41 PM

The U.S. Securities and Exchange Commission (SEC) has recently closed several high-profile investigations into cryptocurrency entities, signaling a potential shift in its regulatory approach. The SEC dropped its case against Hiro Systems, which had complied with a Regulation A registration. This decision follows the termination of probes into Paxos and Stacks, with the latter avoiding charges related to its Bitcoin scaling network. The SEC also ended its investigation into Ethereum 2.0 and Consensus, with the latter being dropped in June. The SEC's retreat from these cases comes after a significant loss in the Binance litigation, raising questions about its strategy and jurisdiction over crypto markets.