The U.S. Securities and Exchange Commission (SEC) has abandoned another high-profile cryptocurrency lawsuit. This time, the agency dismissed

John Reed Stark, a former SEC official, has hinted at the possibility of the SEC dismissing the lawsuit against Ripple. His statement comes as the SEC’s new leadership is becoming more reserved about using enforcement actions against the crypto industry.

The crypto industry is witnessing a significant shift as the U.S. Securities and Exchange Commission [SEC], under the Trump-era leadership, moves to dismiss multiple high-profile lawsuits against major crypto firms. This includes OpenSea, Robinhood, Uniswap [UNI], Gemini, MetaMask, and Coinbase.

The SEC has dismissed or paused several crypto-related cases in recent weeks, which Kraken sees as a “turning point” for U.S. crypto regulation.

Now, the Trump-era SEC has dismissed or dropped crypto lawsuits against OpenSea, Robinhood, Unsiwap [UNI], Gemini, and Coinbase. The Metamask lawsuit was also dropped on Thursday, pending SEC commissioners’ approval. Joseph Lubin, CEO of Consensys, the firm behind Metamask, stated,

The move follows similar dismissals of investigations against other high-profile crypto firms, including Coinbase and NFT marketplace OpenSea.

The US Securities and Exchange Commission is backing off from its legal battle with Cumberland DRW, months after accusing the Chicago-based crypto trading firm of operating as an unregistered securities dealer.

The decision signals a shift toward federal deregulation and a key victory for the crypto industry under Trump