The U.S. Securities and Exchange Commission (SEC) has ended its legal battle with blockchain firm Dragonchain, marking a major policy pivot in its approach to crypto enforcement.
On Thursday, both parties filed a joint motion to dismiss the case, citing recent changes within the agency, including the formation of a new Crypto Task Force.
From Crackdown to Collaboration
Back in 2022, the SEC accused Dragonchain of conducting an unregistered securities offering during its 2017 ICO. The agency, under former chair Gary Gensler, aggressively pursued crypto companies under the belief that most digital assets qualified as securities. That period saw lawsuits against numerous firms across the industry.
Now, under a more crypto-friendly White House and SEC leadership change following Donald Trump’s reelection, the tide is turning. The commission has started to ease enforcement pressure, backing off from several headline cases, including those against Coinbase and Kraken.
Dragonchain Among First to Benefit from New Approach
Dragonchain is one of the earliest beneficiaries of this updated regulatory stance. The dropped case signals not just relief for the company but a broader thaw in Washington’s view on crypto innovation. The SEC appears ready to work with the industry, not just against it.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/sec-shifts-course-drops-dragonchain-crypto-lawsuit/