SEC: Uyeda Details Dropped Crypto Cases

SEC Commissioner Mark Uyeda disclosed that the agency dropped several crypto enforcement cases inherited from the prior administration because defending interpretations it now plans to reverse would have damaged the SEC’s credibility. “I’m not about to have our litigators stand up in court” during a “180-degree change,” he stated. Uyeda framed the SEC Innovation Exemption tokenized securities pilot program as a vehicle that could unlock opportunities for new entrants and traditional firms amid the recent decline in SEC crypto enforcement cases dropped under new administration.