The crypto industry has pivoted toward the Republican Party as SEC enforcement eases under Trump, with key cases against firms being dismissed.
Crypto Industry’s Political Shift
Saga CEO Rebecca Liao stated that digital assets began as a bipartisan issue but have shifted toward the Republican Party due to past anti-crypto policies.
She pointed to the SEC’s inconsistent regulatory stance, stating:
“The crypto community felt as though the administration of power was not really helping out the crypto community with policies that would be productive for this industry.”
Campaign Contributions Play a Role
Liao emphasized that financial contributions significantly influence political priorities, with crypto firms donating heavily to both parties. However, Republicans have embraced the industry’s concerns, leading to stronger alignment.
Trump Administration Resets Crypto Policies
Following Trump’s re-election and Gary Gensler’s resignation, the SEC has significantly scaled back its enforcement actions against crypto firms.
In February 2025, the agency dismissed lawsuits and investigations into six major crypto companies, marking a dramatic regulatory pivot.
SEC Drops Cases Against Key Firms
The SEC has ended enforcement actions against:
- Coinbase – Lawsuit dismissed after a year-long legal battle.
- OpenSea – Investigation into NFT sales closed.
- Uniswap – SEC probe of DeFi exchange dropped.
- Gemini & Consensys – Cases dismissed in late February.
A More Crypto-Friendly Regulatory Landscape
With pro-crypto policies emerging, industry leaders expect fewer enforcement actions and clearer guidelines, signaling a major shift in Washington’s approach.
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