Crypto just received another signal that the U.S. regulatory crackdown is waning. After waging an aggressive legal campaign against Binance for years, the Securities and Exchange Commission has agreed to pause its lawsuit for 60 days, according to a Monday Bitcoin, cryptocurrencies were akin to securities. Therefore, cryptocurrencies were subject to the same laws that govern stocks and bonds, according to the SEC’s legal analysis.
The crypto industry has long vehemently disagreed with this assessment and, in the run-up to the 2024 elections, the crypto industry launched a full-scale lobbying campaign to elect pro-crypto politicians. In total, lobbyists donated $133 million to help sway the 2024 elections, according to crypto researcher Molly White.
