The U.S. Securities and Exchange Commission (SEC) is retreating from much of the major cryptocurrency litigation started under former Chair Gary Gensler, dropping cases against Coinbase and ConsenSys. However, at least four lawsuits against crypto companies, Ripple, Kraken, Cumberland DRW, and Pulsechain are still ongoing. Investigations into firms Unicoin, Crypto.com, and Immutable are also still open. The SEC's retreat from crypto actions highlights the departure from the "regulation by enforcement" approach initiated by Gensler. The agency's shift is seen as an effort to create a clearer regulatory structure for the crypto industry. Gemini President Cameron Winkelvoss demanded retribution for the time and money spent defending against the SEC's probe, but experts believe a direct repayment is unlikely. The SEC's enforcement team has been reduced as the agency looks to focus on rulemaking and guidance for the cryptocurrency market.



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